To: Real Man who wrote (82683 ) 1/7/2000 1:50:00 AM From: Dwight E. Karlsen Respond to of 86076
No Vi, I think that's a good feed. LU warned, and so lots of folks who were long and bullish that stock are going into shock and denial. Here is some delicious irony from the TSC site: "In a timely twist, Lehman Brothers raised Lucent's price target to 95 from 90 on Thursday afternoon before the release about the shortfall. (Lehman has served as a banker for Lucent.) Message boards are buzzing, professional investors are chattering and TSC is covering it all. Check in with our continuing coverage here."<< Anyone who has seen their puts burn up because some idiotic "analyst" who's only analysis seems to be raising price targets just because "the stock is going up", can gloat over the LU debacle. It's not considered nice to gloat, but I am freely indulging in this case. It's also interesting to see the technophile-turned-stock analyst Jim Seymour (his column appears in each issue of PC Magazine) curse his ill-fortune to be long and strong LU at this moment, in his column for TheStreet.com this evening. His column begins thusly: "This Lucent (LU:NYSE - news) thing took me by surprise. Completely by surprise. I like Lucent; I think it's going to be one of the power companies of the next decade; I'm considerably long Lucent. Then boom! Feels like it used to feel when I took that occasional third strike from hell -- the pitch that completely fooled you... And of course it got worse in after-hours trading. LU closed down, officially, on the NYSE to 69 1/16, around 4 p.m., when the exchange stopped the trading. But on Instinet it fell almost 20 points more, finally wobbling around 52. Tough, for a stock trading at 81 and change on Dec. 20 -- and which closed over 75 on Tuesday, apparently weathering the recent carnage pretty well. Very tough. Where do you predict it will open tomorrow? Down how much more?"<<