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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: tony who wrote (75028)	4/16/2001 7:53:04 PM
From: Jack T. Pearson	Respond to of 99985

Chambers has been very candid about Cisco's problems since December. Yet the price of CSCO went from 13.2 to 18+ over the last four days because some idiot analyst upgraded the semiconductor stocks because "things can't get much worse" and a lot of sheep thought that meant the downturn was over. The record is this: Chambers will give you the straight scoop months before others will. I'm willing to bet earnings and sales in tech will continue to decline through the summer, probably through the end of the year. Many companies are finding themselves with too much capacity and have cut capital equipment budgets. I believe they aren't likely to increase those capital budgets in the middle of the year. In my opinion, they are more likely to cut them further.