"Common sense tells me, that in order to execute the wisdom of "buy low, sell high"..... well one has to do the buying when it is low
and right now LU seems to be low.... if it goes lower, well I was wrong.... and I will wait until it is higher. (since I do not think it will be low for long)."
It will probably go lower. And announcing 3rd quarter earnings that beat the market will be no guarantee that it will go higher. Remember the 2nd quarter earnings that were 5 cents higher than the street expected. That started this stock on its downward slide.
As far as analysts saying "buy" then saying "sell"....well, the only thing I know that they have the power to do is swing the stock price. They're something like a theater critic in the Big Apple. If a so called theater critic (one with a reputation I guess) says something good on opening night then the show will run for a while....if he gives it the "kiss of death" it usually folds within a short while.
Sometimes I believe that analysts ratings are deliberate to affect the prices...almost like some back room conspiracy.
Another thing I can't figure out about this string....there are so many people who say they are long on Lucent....well if they are they shouldn't even have to come in this room to make comments.
As far as all these posts saying this guy said that, or this news service has this article, or this business magazine says this good thing about the company buying this or that....well, with a company this size...that is what goes on everyday....it's part of the way the company does business. Some people in here think that every time somebody prints something positive about the company that the stock will jump up a buck or two the next day.
Believe me...everybody on the Street knows about those things long before they become the printed gospel.
Personally, I've posted a couple of weeks back that most of my holdings of Lucent were in my 401K and that I had decided to move everything within my 401K to a guaranteed interest fund until this volatility in the market goes away. I will probably then move back into Lucent and ride it up for a while. Lucky for me, my moving out of Lucent doesn't cost me anything in the way of taxes...it just saved me a paper loss of approximately $40,000 at the moment - - and that is a lot of money for me because I am retired from Lucent and am not dollar cost averaging. I can't buy the downs.
If I would have sat tight I'd just have watched my fund value go up and down and I got tired of that.
I believe this market will bounce up a bit at the end of October or the beginning of November...but...and that's a bit but....I do believe that it is going to slide again in 1999. That is strictly a gut feeling on my part.
Buy the way, how many of you are accountants, stockbrokers, communication experts, and such. Some people come in here and post information as if they were absolute technical experts in the field of communications...whether it be cable, satellite, hardwire, switching or otherwise. It's pretty damn hard to be up on everything in this business and claim to know it all!
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