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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 71.07

-1.4%

Nov 6 3:59 PM EST

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To: Paul Reuben who wrote (22238)	2/9/1999 1:52:00 AM
From: jach	Read Replies (4) of 77397

CSCO can go down substantially in a correction. ----------------------- related news Prudential Securities strategist Ralph Acampora is calling for a correction in stocks, CNBC anchor Ron Insana reports. Acampora said he sees the market falling 5-10 percent from its most recent highs. Acampora refused to provide further details. But a decline of 5-10 percent would bring the Dow down 480-960 points to between 8,180 and 8,676. The Dow Jones industrial average lost 13 points Monday to close at 9,291. ---------------------- During the last four or five sessions, CSCO had been showing extreme weakness compared to overall Nasdaq. If market correction did happen (which is likely considering the fact that nasdaq has gone up 70% during the last 4 months) CSCO will fall substantially. IMO, now is not a good time to get into the stock nor to rush in when there is a small 10% drop. This morning was a good indication of not to get trap in when the stoock temporarily went up a few $s. Based on recent trend and the rate of downward trend, the following #s are good indicators to watch for: 5% correction (nasdaq -100 points) => CSCO 15% drop => 86$ 10% correction (nasdaq -200 points) => CSCO 30% drop => 70$ CSCO is way overpriced at PE of around 120. Historically CSCO PE is around 50 to 60. So, 70$ is in fact the correct price. That is why also a key insider of CSCO sold around 1 Million shares at about 70$.

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