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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Hank Stamper who wrote (10671)	5/31/2000 11:56:00 AM
From: t2	Read Replies (1) \| Respond to of 24042

David, I think the the economic numbers this mornings tilted the balance in favor of a rally. Inline numbers could have resulted in more short term uncertainty and possibly a bit of a selloff today. As I type this, the Nasdaq is down. I suspect (or hope) this won't last. Maybe we can at the very least hold 3400 going into early afternoon, which could set up for a strong finish late in the day. Going to be interesting.

To: Hank Stamper who wrote (10671)	5/31/2000 3:30:00 PM
From: Tunica Albuginea	Respond to of 24042

David Todtman, all rallies " have to climb a wall of worry " as the saying goes. Same here. What we see here in the last hour is a lot of uncertainty. Market comes and goes. To me this is a very good sign. If people felt strongly that we are going down and that this was just another rally in a bear market, after such a nice advance yesterday they would have taken it down by now. It isn't happening. I think there is evidence that the economy is slowing. That is due to Al's interest rate handiwork. But what is really slowing things down is the 50% haircut the Naz has taken especially THE BUBBLE part of it: the dot coms. So now we move up. We move up with companies that have good current earnings as well as excellent prospects of future earnings. Stocks like............JDSU for example, :-) And............here comes the last 1/2 hour!!!! Kentucky horses out of the gate!! Here goes the Naz!!! ciao Message #10671 from David Todtman at May 31, 2000 10:51 AM ET t2, I am not a 'trader' but my pea brain (and those I trust) tell me there is a big rally coming. I feel like I did when, as a kid, and the skip rope was going round and I was just waiting for a good opening to jump in. Hope I don't miss it, the chicken that I am! If I jump, hope I don't get the back of my head slapped! Good luck and best wishes to all, David Todtman TA

To: Hank Stamper who wrote (10671)	5/31/2000 3:37:00 PM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 24042

David, there is another scenario: Institutions will try and put out as much cold water as possible for a few days to allow them to acummulate as much as possible, before the Naz takes off. Fri will tell, TA

To: Hank Stamper who wrote (10671)	5/31/2000 6:23:00 PM
From: SJS	Read Replies (2) \| Respond to of 24042

Someone else's technical opinion today:(Briefing.com): ____________ The Nasdaq Composite put together a solid recovery over the last several days which included its largest percentage increase in history on Tuesday. While this clearly was an impressive move, the turnaround merely retraced 50% of May's slide. To get a slightly different slant on the action of late, we thought a technical look at a few important high tech leaders would help put into perspective the underlying strength of this latest rally. The first issue of interest is Oracle (ORCL)($72 1/16). After twice probing the 38% retracement (a measured reversal of a particular rally or decline) of the move off the April 1999 low near $60, it bounced back to near its 50 day moving average. While the inability to sustain a move beyond this barrier ($76) today is not yet considered a serious problem, unless the market can stabilize short term and put together a sustained advance beyond the $80/81 area (trendline off March/April highs and the May range top), the turnaround should be considered nothing more than a temporary reprieve. Applied Materials (AMAT)($83 3/4) is in a similar position. After halting its slide at the 50% retracement off the April 1999 low it has been stymied by its 100 day moving average at $87. The key is for AMAT to breach and maintain a posture above the $93 1/2 zone. This represents the 50 day moving average and the April/May trendline. Cisco Systems (CSCO)($56 7/8) beat a rapid path to congestion and its 200 day moving average in the $51/50 area during its May breakdown. It has a well defined zone between $63 and $66 (50/100 day moving average and March/May trendline) that must fall to improve its near term technical posture. JDS Uniphase (JDSU) ($88 3/16) also bounced off its 200 day moving average but subsequent action is best characterized as consolidative within the April/May range. Follow through interest beyond the $106/107 area (range top and 100 day moving average) is needed to improve the pattern. Although these represent just a small sample of the high tech market leadership, the turnaround thus far reflects nothing more than an overextended recovery rally. Sustained gains beyond the above resistances will be needed to suggest a more concerted buying effort is underway.