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

To: Ron who wrote (53095)	5/17/2001 10:29:45 AM
From: Ed Forrest	Read Replies (1) \| Respond to of 77400

Good luck to all...whether you are short or long. Ron Don't forget the non-combatants. They don't play but are great at critiquing those that do. They deserve acknowledgment.....or do they? Ed

To: Ron who wrote (53095)	5/17/2001 7:57:48 PM
From: Jacob Snyder	Respond to of 77400

Yes, resistance at 20. But I wouldn't short here, as I think the short-to-medium trend is up. Stocks seem to be ignoring bad news. The JNPR news didn't affect CSCO at all. Even JNPR is still above its support line (51, since the mid-April gap-up). But, since I think the longterm trend is still down (that is, I think we are just in one big bear rally), and the valuation is unreasonably high (given the forward 12M earnings expectations), I wouldn't go long here, except for a short-term trade: go long on a breakout above 20, with a tight stop-loss. Hard to know when to sell. The Fed is doing a good job of re-inflating the bubble.