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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (1650)	11/3/1999 4:59:00 PM
From: Guy Gordon	Read Replies (3) \| Respond to of 24042

"Charting this stock a waste of time"? On the contrary -- Charting got me into this stock at $62. I charted the rise from the teens in Oct 98, forming the current channel. In Apr 99 JDSU hit 67.75 at the top of the channel, and then fell to 51.5 in two weeks. That's a 17% drop and it never left the channel. A similar drop of 17% in the next two weeks would bring JDSU to 158. That's hardly unusual for this stock. It's happened before, and it will happen again. I'm not trying to rain on your parade. I own 500sh of JDSU and have others in my family invested in it as well. I'm ecstatic at this latest move. Just be realistic. This stock will come back down. Maybe you're right and it won't reach 150 again. Maybe it will. But you need to be aware of the history of JDSU so that you won't panic and sell when it drops 17% again. That's why charting is important. The fundamentals tell you which stock to buy. Charting tells you when to buy, and when to sell. I bought some puts today in the last 10 minutes of trading. If JDSU busts through the top of my channel I'll be happy with the gain. If it falls back as I expect, I'm covered. When (not if) it comes back to the bottom of the channel, I'm doubling up. This is the stock of the year for me. But I'm not going to throw caution to the wind. And I will sell this stock when it breaks through the bottom of my channel (hopefully not for another year). I only hold stocks that are going up in well-defined channels. I have no intention of riding one back down.