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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (15812)	1/4/2001 11:40:00 AM
From: SJS	Read Replies (2) \| Respond to of 24042

Tunica, The market is earnings driven, and earnings are going down. I mean, haven't you been watching the warnings, day after day? The market hasn't fully discounted it, and all the ones it hasn't heard just yet. That's why we keep getting these darn rumors on CSCO, and JDSU and our other favorites. However, we are closer to a bottom than a top, but I am NOT willing to commit a lot of cash to LT investments at this time. There is more downside. IMHO, and frankly, I am not going to miss a lot of upside right now. I am waiting for guidance from all the companies I own during this month (from earnings). Again, IMHO, the smart money traded the irrational euphoria from yesterday, and sold the huge move. Just remember, Greenspan NEVER moves like he did. Very rare. He knows he's got to loosen the neck noose. Those that know him have indicated that they believe he sees bad stuff on the horizon. Witness NAPM yesterday, Ford car sales reports yesterday, and that maybe he's seen the unemployment numbers (that you and I haven't). Bradlees going chapter 11. There were more than 480,000 through November!. And, since the market has tanked, there is more than 2.5 TRILLION dollars in lost wealth (ie buying power). However, If you feel like you've going to miss something, I would be happy for you to buy all the stock you like. Finally, I do agree that I think a floor is in, but there is a chance of a double bottom, or a possible partial retest. Steve