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

To: sylvester80 who wrote (45074)	12/20/2000 8:05:11 AM
From: sylvester80	Read Replies (2) \| Respond to of 77400

Here is the downgrade link today. Does 30x earnings put CSCO around $25? www2.marketwatch.com Merrill downgrades CSCO --7:53 am - By Tomi Kilgore Analyst Michael Ching at Merrill Lynch lowered his intermediate-term rating on Cisco Systems (CSCO: news, msgs) to "accumulate" from "buy," citing continued concerns over service provider capital spending, and "emerging fears over a slowdown in corporate IT spending." He believes these issues will cut into the stock's multiple in the near term, noting that historically, Cisco traded at about 30 times "forward four quater EPS." Currently, Ching said it is trading at 50 times. Ching is leaving revenue and earnings estimates for 2000 and 2001 unchanged, but said potential for upside was limited. The stock closed down $1.19 at $41.75 on Tuesday.

To: sylvester80 who wrote (45074)	12/20/2000 8:54:53 AM
From: larry	Respond to of 77400

I do see initial support at 38. Then at 35, 33 with minor support. Major support at 30. If CSCO does fall that low, NASDAQ should test 2k and Greenspan will come to rescue. I am going to cover my CSCO puts this morning and buy at every support level. This gap down does leave room for short term filling the gap at 41 3/4. But CSCO probably will test at least 35 in short term. larry!