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Technology Stocks : Lucent Technologies (LU)
LU 2.575-0.4%Dec 30 3:59 PM EST
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To: William Hunt who wrote (6185)2/9/1999 4:53:00 PM
From: William Hunt  Read Replies (1) of 21876
 
THREAD ----From Briefing.com----
TECH LEADERS: No question, techs were at the heart of the market's amazing rally
over the past four months. And it has
been the group leaders - Dell, Cisco, Lucent, etc. that have been pacing the
sector/market. As such, traders will want to
keep a close eye on these stocks for signs that the current correction has run its course.
Recent history suggests that the big
cap, well known industry leaders will outperform on the way down just as they did on
the way up. So far, so good. Table
below shows just how far the big boys have fallen from their recently established 52-wk
highs.
Stock
Price
% Off High
Amazon (AMZN)
102 3/4
48.4%
America Online (AOL)
151 7/8
14.4%
Cisco (CSCO)
99
15.7%
Compaq (CPQ)
43 3/8
15.4%
Dell (DELL)
101 1/2
7.7%
EMC (EMC)
98 1/2
10.4%
IBM (IBM)
165 13/16
16.8%
Intel (INTC)
128 5/8
10.5%
Lucent (LU)
97 1/2
18.8%
Microsoft (MSFT)
164 11/16
6.4%
Oracle (ORCL)
55 5/8
9.9%
Sun Microsystems (SUNW)
100 1/4
13.4%
Yahoo! (YHOO)
146 1/8
34%

Average decline is 16.1% - including AMZN and YHOO... Ex-these two volatile Net
stocks, average is 12%. Typically, big
(non-Net) names will fall between 15% and 20% before bargain hunters step back in
aggressively... AMZN and YHOO
more likely to fall by between 40%-50% before attracting bargain shoppers... Based on
this pattern, Briefing.com expects
techs to remain on the defensive for at least a little while longer as sector has no chance
of sustaining a rally without
participation from these leadership stocks.

BEST WISHES
BILL









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