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

To: S. M. SAIFEE who wrote (14137)	3/23/2000 12:13:00 PM
From: Mort	Respond to of 21876

This may help to understand what is happening today. Pasted from the Thomson I Watch site. LU -- Process Sys & Prdcts -- Technology Buyers at the Plate, but They Can't Bring LU Home 23-Mar-00 10:58:18 Big Money players are stepping out in defense of Lucent Technologies. However, the stock continues to trend lower, trading down $1 1/4 at $61 3/8. Earlier this month, Lucent?s restructuring plans had attracted aggressive growth players, who sent the stock flying over 30% to reach high $60s. Notably, the surge helped overturn some of the lost ground due to LU?s January 6 earnings pre-announcement. However, these short-term traders soon lost interest in the issue, allowing LU to drift down 10% over the past two weeks. LU?s daily volume has tapered in recent weeks as well, reaching a 10-day average of 16 million shares. A good portion of the recent selling is likely related to quarterly portfolio polishing, as investment managers would rather show top holdings in stellar performers than a stock struggling to make a strong comeback. In today?s session, nearly 8 million shares have been exchanged, which is on par with recent levels. Institutional participation is solid with block volume accounting for approximately 30% of today?s activity. I-Watch illustrates a few growth-oriented investors looking to take advantage of LU?s weakness. The support has created support around $61 1/2, keeping the issue in a tight trading range for much of the session. The I-Watch post-trade data confirms the strong participation by institutional investors.