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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.04-0.3%Nov 26 3:59 PM EST
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To: Ibexx who wrote (17978)10/8/1998 12:02:00 PM
From: The Phoenix  Read Replies (1) of 77400
 
Ibexx,

I read that last post and I'm sitting here shaking my head. Do these guys get paid for these statements?

The argument is
that worsening global situations will eventually impact the U.S. economy, even
though conditions look OK at present.

Really? Who's the rocket scientist?

From a psychological standpoint, the unraveling of the sacred cows in technology
and pharmaceuticals represents a necessary component in destroying all hope and
thereby setting the stage for reversal.

Setting the stage for a reversal? We're down 13% in 5 days and NASDAQ
is off nearly 30% from it's high and we're setting the stage for a reversal. I think most folks would agree we're in the midst of it. This is a little late...don't you think?


On the earnings front, internet giant Yahoo may improve this morning after
exceeding quarterly expectations yesterday. But generally, the profit news is soft
with Agco Corp., Bassett Furniture, File Net, Information Resources and Raytheon
all issuing negative pre-announcements.

This happens every stinkin quarter. Pre-announcements take the market down at the end of the quarter and those that don't pre-announce come in solid and bring the market back. The difference this time around is market/gloabal economic sentiment. The companies that make up the market are performing as expected.

OG
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