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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: QwikSand who wrote (32557)	6/2/2000 5:10:00 AM
From: QwikSand	Read Replies (2) \| Respond to of 64865

Here's what Walberg of Briefing.Com says about today. When I read it, it seems to make obvious sense. In his table, SUNW's resistance point is $88, Bunny Hop City. We ain't gettin' there any time soon unless the employment numbers indicate that you should see a soup line forming outside your window, or maybe inside. The Globex Naz futures are so bright you gotta wear a hard hat. I'm being the Pollyanna of the thread; somebody has to do it<g>. --QS Yesterday, we noted our disappointment in the performance of the large-cap stocks like Cisco (CSCO 60 15/16 +4), Oracle (ORCL 77 7/8 +6), Yahoo! (YHOO 120 1/16 +7), Sun Microsystems (SUNW 82 11/16 +6 11/16), etc... While these stocks bounced back sharply on Thursday, virtually all of the leadership names remain below important resistance levels (see table below)... And most have recorded big gains over the past few days - moving quickly from (short-term) oversold to (short-term) overextended territory... In other words, the gains this week have been a welcomed change, but they have yet to repair the damage done by the pullback... It is still safer to take a wait-and-see approach to the sector... If in fact the gains over the past two days are the start of a trend reversal then all you lose is bragging rights (for picking the bottom)... You'll have plenty of time to get back in (if the gains are for real)... On the other hand, if institutional investors continue to sell into strength and the big named stocks roll over once again - you won't have been caught in a bear trap.