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

To: Ed Forrest who wrote (41863)	10/30/2000 8:32:33 PM
From: t2	Read Replies (2) \| Respond to of 77400

I think the shorts will have fun for another day or so and that is about it, IMHO. ..or maybe their luck just ran out today--when the stock was around 47. Cisco should have tanked today based upon a price revision coming when the stock was vulnerable to react on such news---ie in the wake of NT's earnings last week. It shows that the stock is pretty solid around these levels. Given that its business is not the same as NT's just as the LEH analyst pointed out, I think think most will see this as a buying opportunity. I have also noticed that the semi conductor stocks are starting to rally (at least the lower PE tech stocks). That is usually a good sign for the rest of tech. Except for Intc and few high fliers, the semis had a great day. Even Dan Niles price reduction on Micron did not stop it from going up in a big way. Remember many feel the semis have to go up for the techs to mount a rally and we may be working on that right now. In my opinion we are just waiting for the right catalyst to drive the Nasdaq higher. Once it starts moving up, the selloffs in many stocks will come to a halt while a few sectors start moving up. That is why it is important for the index itself to advance rather than individual stocks right now. A rally might be lead by PC (MSFT, INTC, DELL etc) related as well as Semi conductors...but this will also affect the rest of the Nasdaq100 stocks and a broader move up would follow. Tomorrow afternoon should be our turnaround. I can't see think Cisco going lower as even those funds trimming their holdings in fiber stocks will not touch the 2nd biggest market cap stock. Too many bears on this thread think it is headed lower but even a concerned analyst could not "downgrade" the stock. That says a lot. Good Luck! The longs' day will come soon!