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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: rrufff who wrote (7893)	10/29/2000 9:58:50 PM
From: KM	Read Replies (3) \| Respond to of 14638

What makes you think this is the bottom? There's been a major change in the fundamentals. I would think rallies will be sold until that changes. I don't know where you're in at so I don't know if you're trapped. But a lot of people are in Ciena, GLW maybe some others at much higher prices. "I'll buy more" - they were saying that all the way down on the internet and semiconductor stocks. A lot of those folks are washed out now when the bottom is really in on some of those and they're buyable. I haven't shorted this or any of them yet but again, unless the fundamentals change for the better, I'd like to see a bounce to buy a few puts out to January or February. People were screaming and yelling about manipulation, etc. on the semiconductor stocks when Jon Joseph made that call in the summer and they got their bounce because the rest of the big money needed to distribute. Now, it looks like he was right and whoever didn't sell the bounce isn't happy today. Could this be the same thing? I'm not dogmatic about any of it but right now, you take the fundamentals and look at the charts of some of these companies, and it don't look good. Higher probability of more down moves than a return to previous highs.