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Technology Stocks : Lucent Technologies (LU)
LU 2.8200.0%Nov 7 9:30 AM EST
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To: puborectalis who wrote (5773)1/22/1999 7:19:00 AM
From: Tommaso  Read Replies (1) of 21876
 
It's an excellent company that is likely to dominate most of its markets. But the price of its stock, like that of IBM in the later 1960s, has been bid up so high that it reflects many years' improvement of profits in advance. When this happens, it often turns out to have been a good time for long-term holders to take some profits, and short-term holders using margin sometimes are squeezed into forced sales of the stock, aggravating a temporary downturn in the stock price.
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