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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Bull-like who wrote (8627)	7/15/1999 6:08:00 PM
From: Ronald Allen	Read Replies (3) \| Respond to of 21876

Even the battery runs down at some point. For short term traders like myself, LU looks overbought. It may move up for another day or two since earnings are due out next Tuesday and expectations are high. I sold it short today at 77 and expect to buy it back at under 75 next week. That may not sound like much but I've found that I can make 3-5% every couple of weeks by buying stocks that are oversold and shorting the ones that are overbought. If I'm wrong, I'll buy it back when it hits 82. In any case, everyone seems so euphoric about this stock that I thought a little contrary opinion would be welcome.