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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: JC Jaros who wrote (21338)	10/15/1999 8:00:00 PM
From: Sonki	Read Replies (2) \| Respond to of 64865

Investors Pessimistic About Sun's Rise 10/15/99 9:59:01 AM After Thursday's closing bell, Sun Microsystems (SUNW - 89-3/4) reported first-quarter earnings that beat First Call estimates by two cents per share. The company announced a fiscal operating net income for the quarter of 33 cents per share, which easily topped the year-ago figure of 14 cents per share. Along with performing well fundamentally, SUNW has been a long-term success from a technical perspective. Since bottoming out in early October 1998, the stock has risen an impressive 358 percent, using perfect support from its ascending 10-week and 20-week moving averages (see the chart below). Despite this stellar upward momentum, investors aren't convinced of SUNW's staying power and have been displaying extreme pessimism toward the shares recently. The equity's daily put/call ratio is currently higher than 97.6 percent of all such readings taken over the past 52 weeks. From our contrarian stance, we view this skepticism bullishly from SUNW's near-term prospects.