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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (86395)	3/27/2001 7:10:47 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

Don: While the desire to paint the quarter end "pretty" as well as the need to get the LU junk safely out the door and into the hands of the sheep will likely cause Wall St. to grit teeth and spend even more dough trying to hold the tech pigs up, Nortel and CSCO have kicked the legs out from under their efforts. Tonight's after-market confessionals (how many does that make for each of them?) is one of those that simply cannot be ignored. It is a knife in the liver type of wound. View the LU offspring as an "auto-short". I noted this afternoon that something had triggered some TL in CIEN's direction.... now we know what it was. Look for the optical stocks to take some hemlock tonight or (hopefully not until) tomorrow. JNPR, one of my favourites, hasn't really been thumped yet, but it lives on borrowed time. Most tech companies have gone out of their way to warn of just how nasty and ugly their worlds have become (there is genuine panic starting to emerge in some of the tech board rooms with which I am familiar). The sheep have ignored the most recent round of same. As the "warnings" party is just getting underway (not just with respect to the quarter, but with respect to the bottom dropping out of every tech company's market), we should expect genuine panic soon. I don't know what specific item will do it, but repetitious, ever lower estimates from "world class" companies such as Nortel, can easily provide the catalyst. The exits are about to become very crowded. While I thought we might avoid it, a full-blown dash for the exits is starting to appear inevitable to me. Best, Earlie