Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.690

-1.5%

1:46 PM EST

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To: Anonymous who wrote (4739)	10/21/1998 12:38:00 PM
From: J. P.	Read Replies (2) of 21876

< .the stock started down the day of the announcement and finally stopped at 57 on 10/7/98.> Wait a minute, wait a minute. I remember last quarter's scenario with Lucent all too well, because I had for me a huge call options position. I bought October 80 calls at 72 and rode them all the way up to 108 which was the day of earnings announcement. And I swear I remember that day like yesterday. I actually truly believed LU was going to go to 120, it had that kind of momemtum and good news in reserve. What cratered the stock that day was that ALAN GREENSPAN made his bearish remarks on the VERY SAME day as the Lucent earnings! You can pin the day of the start of the general market slide to the very day of Lucent earnings. In this case, we are just pulling out of a bear market, MSFT and IBM have come through, and liquidity is returning to the market. The advance decline line is improving, the RUT is improving so this is a broad based rally. And we have more interest rate cuts in store potentially. So this is an accumulative market. My bet is that although there might be some short term backing and filling, Lucent retraces to the low 100's by the end of the year.

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