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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 668.73

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Nov 24 4:00 PM EST

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To: Clint E. who wrote (15038)	1/8/1998 2:14:00 AM
From: Johnny Canuck	Read Replies (1) of 68276

Hello Clint, It sounds like you had a good Christmas break. There is nothing like a break from the usual routine to put everything in perspective. >Won is worthless and Korean Operator(s) have problems >in coming up with letter of credit in US $. It looks like this is finally being reflected in the press as indicated by the drop in QCOM today. >> Growing negative on telecom & datacom stocks in the >> short-term as well. I think that selected telecom stocks might be alright after this quarter. It was indicated in the last NT conference call that many of the telephone companies may have spent the bulk of their budgets early in the 1997 year. As we are about to start a new fiscal year for some of the telephone companies and the need to upgrade to supply greater capacity is still there, we should see continued growth going forward. Whether the growth is as aggressive as predicted by some analayst is the question. I share your concern on the Data Communication companies at the eneterprise level. The industry is maturing, certain segments are being saturated and margins are eroding. Cisco actually is looking like a technical short here (falling volume with rising price). It has shown amazing resilence up to now. Harry

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