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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (35921)	5/21/2000 10:27:00 AM
From: The Phoenix	Read Replies (2) \| Respond to of 77400

SO, Indeed. I am shocked..... and I believe I posted this a couple of times already. I have underestimated the effect the interest rate increases would have on this market. Monty, fwiw I agree with you that Monday we're likely to open lower and more longs cash it in. I will say this though - it feels like we're very near capitulation. I have nothing to base this on other than a gut feel but it feels like the mice are jumping off the ship. Summer Doldrums? For someone that has investing only 6 years you should know better... and yes, I still disagree with you on this. THe NAZ, for the last three years, has seen positive moves in June and July. I think all will agree that by late August things soften. The last time the NAZ had a "Summer Doldrum" in June/July was 1996 - correcting about 15%. In 1995 the summer was fine - no correcting. So, again, you are right about the market but for the wrong reasons... further supporting my contention that it is better to be lucky than good. LOL! Most folks know that the markets move down is being fueled by interest rates and with that valuations. This leads to uncertainty and a loss of investor confidence. It has ZERO to do with a Summer Doldrum. Anyway, unlike you... (it was clear to both Jay and I that you had no intent of paying up your bet. In fact you left SI. No, I don't buy your story about being booted because you posted that you had some sort of job that would not allow you to post. That story was bogus too.) I will honor my bet should CSCO close below $50. How many more days do we have? If it's going to happen I think it'll be early in the week... OG