UNPH _ Uniphase Message Board

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Technology Stocks : UNPH _ Uniphase

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To: fred woodall who wrote (788)	3/10/1998 9:33:00 PM
From: Ed Frye	Read Replies (2) of 1261

<I see nothing to slow this market down at this point. the market obviously has great momentum and the only thing that can slow it down are more earnings warnings, the bulls running out of $$$ and/or fear of losing big gains. i thought today would be a big sell-off in techs following yesterday's PM debacle and was dead wrong. so i'd say market is stronger than i realize - however - i noted internets slowed down today - and hardware didn't do too much - semis rebounded a bit - as did software - as did the tech blue chips - but all in all - i don't see any major strength left in techs - and earnings warnings will keep coming - oil service also very weak - banks - drugs - retail - transports - especially airlines will carry the dow - however even they are approaching a top as money rotates out of techs. what is this - week 5 of current major rally? what about UNPH ??? 40 is becoming real resistance - what do you see between now and option expiration - another run-up and sell-off? what about earnings? i think the market has discounted a lot of earnings uncertainty into the price - if we make or exceed our # i think we will zoom to high 50s......//ed

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