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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 77.23+4.4%12:43 PM EST
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To: jach who wrote (18443)10/27/1998 2:18:00 PM
From: RetiredNow  Read Replies (1) of 77398
 
jach, I think you are probably wrong about your prediction that tech stocks will come down in the next two weeks and even more off the mark thinking that Cisco will retreat. Cisco has a selloff about once every one to two years, then it bounces back strong and continues until the next one a year or two later. Cisco will meet earnings as it has always done and the stock will continue to climb a little at a time until we see the 80's sometime next summer.

As far as tech stocks in general, I believe that all the key factors are taking shape to put confidence back in the market. Clinton is finally out of mainstream news, thank God. The IMF has reached tentative conclusions wrt bailout plans. Brazil and key European countries have reduced key interest rates in lock step with our Fed. All the bad news is out from every possible direction. Barring any other major world shock, this market is poised for short term (1-2 mos) of basing and near term (out a year or so) of steady increases.

6 mos from now, it will be as if October never happened. So where do you want to be 6 mos from now, in or out? I am in to stay. I haven't sold anything throughout and am still very far ahead on all my Cisco holdings. This downturn has been a great opportunity for me to increase my Cisco holdings.

Good luck!
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