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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (4200)	1/8/2000 8:03:00 AM
From: Stocker	Read Replies (1) \| Respond to of 14638

From theStreet.com....... Nortel Health Saves Investor Wealth By James J. Cramer 1/7/00 4:34 PM ET What was the tell, the key thing to see this morning? What would have given you the big heads-up that Friday wasn't going to be a terrible day? Nortel (NT:NYSE - news). As soon as Nortel said things were fine, and the market believed it by taking the stock up dramatically, that was the sign that the Lucent (LU:NYSE - news) contagion was not spreading. Nortel goes head to head with Lucent everywhere. If Lucent had not made a conscious decision to own up to its own execution and Nortel had not spoken out so quickly, this stock would have traded to 77. We know because that's where the stock traded gigantically last night. I was standing here, and I almost got hit by a flying piece of Nortel! Today was all about the containment of the Lucent contagion. That's what made it safe to get back in the water. Knowing that Nortel didn't get crushed gave you the correct signal to go long Cisco (CSCO:Nasdaq - news) and Sun (SUNW:Nasdaq - news) and a whole host of other recently crushed tech names. What else? The drugs were wild and crazy positive. You had to love the Procter & Gamble (PG:NYSE - news) rally. That may even be an harbinger to lower rates down the line. Too early to tell. And now we wait for the news that halted Ancor (ANCR:Nasdaq - news). I am neither long nor short, but I know this: Herb's out there on this one.