With all that's been on the plate in the last two weeks, I don't think it matters right now what LUCENT, CISCO, or anybody has to bring to the table.
With what's going on with the President, the air strikes in the Sudan and Afghanistan, the uncertainty in Asia, Russia, South America, and the possibility that the economy here may start to slip after the summer is over and everyone comes back to fill up what factories are left around here....well --
The market is so jittery that technicians looking at charts are just kidding themselves, product announcements don't mean much, mergers or non-mergers (Ciena wasn't a merger....it was just an idea that was thrown around so much people just believed it had to happen).
Everybody that bought into LUCENT a long time ago are probably out of it by now...they've chartered their flight to safety and like 007 have bought into bonds or parked their money in the cash accounts and are waiting things out.
If you want opinions or non-educated guesses...here's mine! This market is going to continue to slowly erode...maybe a bit faster next week than in the previous 25 market days. Only the "new" money coming in via 401K's and IRA's that is destined for mutual stock funds will keep things temporarily shored up while things continue to weaken.
Everything I have and what my wife have invested in mutual funds has been sliding since July 17. Magellan, Vanguard Primecap, Vanguard Windsor II, and some others, plus whatever amounts of stock I'm holding in AT&T, Lucent, Bell Atlantic (flat) and Bell South (flat).
You have to be a real optimist to believe that things are going to go up at the moment. Better to be short than long at this time if you are a true stock player.
Just coming in here and trying to "talk" Lucent up isn't going to do it. |
