Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.550

+2.4%

Dec 1 3:59 PM EST

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To: Mark Palmberg who wrote (3274)	7/23/1998 1:29:00 PM
From: J. P.	Read Replies (1) of 21876

I agree. I held through earnings on the hope that they'd have a bigger earnings blowout. And also on the chance they'd announce a split. For the very short term there's nothing left to propel LU forward. I've liquidated all options contracts I was holding. Uncle Al effectively lanced the bubble that was forming in the market, the timing was unfortunate for short term LU traders, because I think we'd have seen more of a pop Tuesday. The Nasdaq in general is reaching the top of a cycle, how much higher can CSCO, MSFT, DELL, INTC go? So the leadership is topped, and the secondary issues aren't going to bring us higher. Today is the third day of a downtrend, a confirmation in my book, and earnings season is almost over. We might have one more run up this summer, I'd call it a sucker run. I'm going to let the market mark time for a while and come back in the late fall when there should be lots of ripe apples on the low branches, including Lucent.

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