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Technology Stocks : Foundry Networks, Inc. FDRY -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (641)	1/13/2000 11:41:00 AM
From: jmanvegas	Read Replies (1) \| Respond to of 1225

Gary: Yes, the 50 DMA was broken but looking at the short chart history of FDRY, each time FDRY traded below its 50 DMA was a buying opportunity. Maybe this time it is different and breaking the 50 DMA is indicating that FDRY will disappoint - the earnings report will confirm or not confirm this slide from the 345 pre-split high. But I'm just got this feeling that I'm smelling a huge Wall Street rat at the heart of this. I wouldn't be surprised that the FDRY executives are looking askance and smiling as their Wall Street backers are grabbing shares from the weak and putting those shares into the hands of the strong. Institutional ownership of FDRY is paltry currently and everyone knows the Street likes to get shares for their large clients and themselves on the cheap. One needs a very strong stomach fo this bulls**t. Again, if earnings disappoint, I then can understand the removal of over $8 billion in market cap in this recent and brutal downslide. BTW, this split was one of the worst I've witnessed recently. Not only did the stock sell off dramatically into the split, but continued the usual split swoon with more visciousness than I have seen in other supposedly tech darlings. Something is not kosher here and I can't put my finger on it. But I could be wrong and if the earnings just meet the estimates or whisper, the Street will then take additional pounds of flesh from its retail victims. Earnings is the key to me - I will hold or sell based on that report. An earnings report that is not glowing will leave FDRY a broken stock for a long time IMO. I'll make money on this since I bought in early, but I feel for those who have recently bought into the FDRY story. jmanvegas