Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Pancho Villa who wrote (9387)	5/31/1998 3:25:00 AM
From: Dale Baker	Read Replies (3) of 18691

CSCO has a projected growth rate of about 25%, yet it trades at 42x FY1998 earnings and 34x FY1999 earnings. Though I suspect you would need an institutional move out of tech stocks for it to feel the pain that it went through in early 1997. The 200DMA sits around 50. That would be the target if CSCO warns about Asia woes in their next earnings report. Sooner or later, the analysts will have to admit that second-half 1998 tech profits are not going to be rosier than the first. Where will the bounce come from? Only their upgrades, from what I can see.

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