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Technology Stocks : Oracle Corporation (ORCL)
ORCL 201.95-1.5%Nov 28 9:30 AM EST
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To: Shawn M. Downey who wrote (8008)8/5/1998 3:35:00 PM
From: MeDroogies  Read Replies (1) of 19080
 
Offense taken...that was a very rude method of making a point. What I meant is that AS I PREVIOUSLY STATED - ORCL is tracking with the market for the most part. As you CLEARLY pointed out...that is true. Why do I consider that a good sign? Because it means that when the market bounces back, ORCL will probably move faster than other stocks, since it is generally undervalued....
I expect the market to turn after today. Why? Because while earnings have been in the 5% increase range...there have been ALOT of companies that have beaten estimates. More than those that have come under. In general, 30% of all stocks have beaten estimates this year. What is happening with the market is that weak stocks are dragging down the strong ones with them. That is a common occurrence...but one that adjusts itself frequently and rapidly.
As a result, many traders are beginning to see ALOT of value. Whether they do anything about it today or tomorrow will remain to be seen (not much time left today). I expect tomorrow will be a very big day, one way or the other. If tomorrow is down dramatically, that would be a very bad sign for all stocks. Otherwise, I would expect good value stocks to gain.
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