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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.75-0.5%3:59 PM EST
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To: The Phoenix who wrote (17795)10/5/1998 10:41:00 PM
From: larry  Read Replies (2) of 77397
 
Gary,

I like CSCO a lot, right behind MD and Softie. And I do hope that the downturn in CSCO is temporarily. However, I am not as confident as you to claim that the downgrade is a joke. The bottom line is that the market sentiment is so poor that a downgrade by a Cowen analyst from 'strong buy' to 'buy' can cause a major blue chip issue to lose 10+ billion market cap in one day. And consider that this is to a company that has never disappointed the street in more than 8-9 years in a row. This has to indicate that the technicals of CSCO is very poor. I am just wondering what the market reaction will be if two or three more analysts downgrade the issue in the next 4-5 sessions.

good luck,
larry!
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