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

To: Charles Tutt who wrote (37880)	11/16/2000 4:32:06 PM
From: techtonicbull	Read Replies (2) \| Respond to of 64865

Thanks. It looks like another buying opportunity. An irrational selloff.

To: Charles Tutt who wrote (37880)	11/16/2000 11:04:09 PM
From: QwikSand	Read Replies (1) \| Respond to of 64865

I listened to the conference call replay, then looked at the 5-minute chart. The plunge came on relatively huge volume right as the conference call started. If you listened to the whole call with an open mind, the message was, "Our competitors are losing their heads, and we're keeping ours. Everything is cool. Nothing has changed except that we're whittling down our backlog which is important to us. However, we're going to resume our former conservative-projection stance and we have difficult 'compares' to previous stellar quarters to deal with, just like we said we would." The analysts, many of whom don't sound terribly on top of things, kept on asking, "But when you say 40, don't you mean 50?" And Lehman kept on replying "You're not paying attention, when I say 40 I mean 40." At one point, Zander explicitly said (and this is a nearly-exact quote): "Wow these are tough calls, you have to watch every word you say." I did detect a little dancing in the area of execution on new products, but maybe that's just me. If you listened with your finger on the trigger looking selectively for code phrases that might have appeared in other companies' warning calls, you could hear the FALSE message, "slowing growth" if you wanted to. IMHO this is especially true if you just listened to the first 3 minutes of Lehman's prepared remarks. I think that must be what happened. The 10 or 12 million shares that pro traders and their retail wannabee followers dumped after extracting a phony message from the call is probably the main story here. It was of course helped along by a general market tone of the Nasdaq tanking badly but on a slower trajectory during the last couple of hours. To me this means it should go back up within the next few days. The futures for tomorrow look bad right now but it's still too early to tell. --QS