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

To: Zoltan! who wrote (12152)	1/6/2000 5:48:00 PM
From: KM	Read Replies (2) \| Respond to of 21876

The Real Deal By James J. Cramer 1/6/00 5:33 PM ET Click here for the latest filings from James J. Cramer. This is the real deal. A major blowup of a major company. Now we find out what this market, or markets, judging by the NDX vs. the Dow, are made of. Even as I write, many Nasdaq stocks are offered down 4 or 5 and they are trading. In size. In major six figures. Institutions are panicking. They are throwing away stock at any level buyers can find. Lucent (LU:NYSE - news) encompasses so many different areas from telecommunications to semiconductors to dot-com equipment. To ignore it, even if there are execution issues, is to play ostrich. I know this: Lucent missed the boat by a mile. (And, by the way, Herb Greenberg warned that this was going to happen on our show, and I am sure glad I listened, even as I feel terrible for the holders and all of the people who work there in my hometown in Jersey.) Therefore this is not one of those situations where the collateral damage will be slight. It will be heavy. Oracle (ORCL:Nasdaq - news), Sun Microsystems (SUNW:Nasdaq - news), Intel (INTC:Nasdaq - news) and Microsoft (MSFT:Nasdaq - news) will be impacted. (I know that because they are trading down heavily as I write.) Join the discussion on TSC Message Boards. This blowup is tailor-made for the bears. Let's respect their right to maul and maim at will tonight and tomorrow. What I have not done is buy any Lucent at 54 where it is trading aggressively. Too early. Too hard. Too, well, nightmarish. One final thought: For those of you who would think the market is just plain over, remember that this market has weathered shortfalls and problems from everything from IBM (IBM:NYSE - news) to Intel from Merck (MRK:NYSE - news) to Microsoft. To give up because of Lucent seems a little rash, even as it would seem to fit the short-term bill. Being dumped in size at the moment at 53. --------------------------------------------------------------------------------