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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (9756)	10/25/2000 1:48:20 PM
From: Jill	Read Replies (3) \| Respond to of 65232

Volts: Thomson I Watch reported instiutions seling JDSU---no that you're in it, but damn, I am!!!!! I return from 10 days in Santa Cruz on the very day my opticals are gunned down by uzi. Which proves RR is right and I really deserve it for not setting sell stops. It's fascinating like watchin a horror movie to see how far these stocks are down--SDLI--which I don't own--down 86 or something. CIEN down 30, nt down 17 (own that too), rambo 58 btw. ANyway: JDSU -- Divers Electronics -- Technology 25-Oct-00 12:23:15 JDS Uniphase has plunged $18 3/16 to $76 7/8 on the heels of Nortel Networks' (NT) disappointing sequential revenue results. NT's light optical revenue and a shortfall from Lucent Technologies (LU) has raised concerns of slowing industry growth, which has hammered JDSU. Analysts are awaiting JDSU's earnings report, slated for tomorrow, to paint a clearer picture of the industry. Shareholders, on the other hand, can't wait for the results and are looking to ditch shares now. Notably, the supply has driven JDSU through its recent support level around $85, though historical support around $75 has held up thus far. However, the breach of the recent floor and the surge in volume looks foreboding. Over 61 million shares have traded, nearly triple the daily average of about 23 million shares. Institutional participation on the decline is strong with block trades accounting for 30% of today's activity. The time and sales data reveals that several institutions have been willing to part with shares at prices below the best bid, in order to cross trades of size. For example, at 9:45, a block of 200k shares traded at $80 15/16, below the bid of $81. I-Watch's pre-trade action shows a few players (with long-term investment horizons) are taking advantage of the sharp losses and looking to add to the their positions. However, these bottom fishers will not look to move prices any higher, as they are interested in getting the best price. It is also worth noting that several brokers continue to advertise available stock, despite today's slide, which suggests that JDSU will remain under pressure for the near-term.