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

To: Yaacov who wrote (39733)	12/26/2000 4:12:33 PM
From: X Y Zebra	Respond to of 64865

HAHAHAHA Good thing I never smoked, that way I will NEVER give up anything !! -ggg- Hey Yaacov, may be we should move here before the locals stone us to death... Message 15083535

To: Yaacov who wrote (39733)	12/27/2000 12:18:41 AM
From: techtonicbull	Read Replies (1) \| Respond to of 64865

New Bullish Plays ================= Sun Microsystems, Inc. SUNW $30.31 -1.56 (-1.56 this week) A flock of tech players may have issued earning warnings, but Sun Microsystems isn't one of them. Sales and profit growth at the network server manufacturing giant is expected to be in the 'high 40's' despite the softening economy. In a memo to employees, CEO Scott McNealy said, "There is no question that the U.S. economy is cooling off." "It may be a soft landing. It may be a prolonged period of economic indecision and fluctuation. I can tell you no one knows for sure." While stressing the need to "continue the cost controls we put in place this quarter" he noted that Asian and European sales remain strong, and that the company is "in the best financial condition and market position in our history." This years' sales saw no slow down. For the three months ended September 1, revenue increased 60 percent to $5.05 billion, while net income over the same period of time increased 80 percent to $510 million. After reaching a split-adjusted record high of $64.66 on September 1st the stock saw its 52 week low of $25.13 on December 20. Most of the drop can be attributed to the general tech malaise, although the company in the strongest terms denied one particularly damaging rumor of accounting irregularities. With the tax-selling season about to be put behind us, we believe there is limited downside to the stock. We view the recent weakness as an opportunity to establish a position in one of the strongest and historically best-performing tech company's. It is this type of stock that will see the most significant and earliest appreciation in the New Year. On a more immediate time frame, Sun's ability on Tuesday to hold most of Friday's $4.94 gain and close above its 10-day moving average of $29.98 is a bullish indication. Technical indicators are indicative of a bottom. The longer trending macd indicator has reversed its decline in deep oversold territory and is on the verge of issuing an outright buy signal. Shorter-trending stochastics are also improving. Volume is an unreliable read as it traditionally is not strong in the week following Christmas. The chart shows upside resistance at about $45 and downward support at $30 and $25. Picked on December 21st at $30.31 Gain Since Picked 0.00 Earnings Date N/A (Not Confirmed) members.netbulls.com