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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: John Paquet who wrote (50248)	6/16/2001 1:50:23 PM
From: Rocket Red	Respond to of 62347

No Recovery Until 2003 Investment in NT last July worth 12c on the dollar 19.2-billion hit stings Nortel Huge second-quarter loss leads firm to shed 10,000 jobs, jettison business Patrick Brethour03:31 GMT-04:00 Saturday, June 16, 2001 Nortel Networks Corp. will lose $19.2-billion (U.S.) in its second quarter -- the second-largest quarterly loss in corporate history -- as its sales fall prey to an unprecedented collapse in the communications-equipment market.Along with its gloomy forecast, Nortel unveiled a sweeping plan to reduce its annual costs by $6.3-billion, including 10,000 more job cuts, that will see the Brampton, Ont., company jettison extraneous business lines, customers and research programs. Nortel made no projections for its third and fourth quarters, but chief executive officer John Roth said he hopes that the painful downturn in the telecommunications sector has finally bottomed out. "Is this the end of it? God, we sure hope so; this is a brutal experience." Prime Minister Jean Chrétien, speaking after a cabinet retreat, said Nortel investors shouldn't panic."Nortel, it is a very good company, a very sound company [and] has been performing very well over a long period of time. But in that sector there is a big adjustment to be made, and they have to do it," he said, adding that inflation is under control even though it hit its highest level in a decade last month.The implosion of Nortel has shattered the company's image as Canada's lead actor on the stage of global capitalism. Five short months ago, Nortel was the undisputed champion of corporate Canada, not only the largest technology company in the country, but the most respected. Mr. Roth was named CEO of the year in 2000 and inducted into the Canadian Business Hall of Fame."It was the gold standard, the company everyone wanted to emulate," said Iain Grant, managing director of Yankee Group in Canada. Now, Nortel's reputation of hypercompetence is shredded in the wake of its latest warning about falling sales and soaring losses. A third of its workforce is being shown the door. The value of its stock -- the most widely held shares in Canada -- has fallen so sharply that a dollar invested in Nortel last July is now worth just 12 cents. Nortel shares fell $1.06 (Canadian) to $15.17 yesterday on the Toronto Stock Exchange, for a week-long decline of 20 per cent.The drop in Nortel's market value in recent months has increased the vulnerability of Canada's premier technology company to takeover, although Mr. Roth said yesterday that Nortel is not considering a sale or merger with a rival.Michael Urlocker, telecommunications-equipment analyst at UBS Warburg, said demand for communications equipment could fall even further and that any recovery in demand might not begin until 2003

To: John Paquet who wrote (50248)	6/16/2001 2:03:37 PM
From: Rocket Red	Read Replies (1) \| Respond to of 62347

NO SUMMER RALLY INSIGHT AS NO RECOVERY IN SIGHT NT VOLUME MOST LIKELY JUST SHORT COVERING

To: John Paquet who wrote (50248)	6/16/2001 2:36:33 PM
From: Swami	Read Replies (1) \| Respond to of 62347

John Paquet Dreaming in Technicolor and smoking some good stuff...Good point about triple witching though...time to batten down the hatchets...and wait for the next round of bear rally to come..so we can daytrade..i think there is another thread for Bagholders isnt it?

To: John Paquet who wrote (50248)	8/30/2001 4:25:19 AM
From: Andrew	Read Replies (2) \| Respond to of 62347

<<<Now what is NEXT????, Andrew, again you should be smarter enough to figure this out, Should'nt you????>>> I'll tell whats next, The DOW is falling and may finally collapse in the coming months following the rest of the financial markets. The NASDAQ is continuing its decent and will make new lows. Its only a matter of time NAZ is headed below 1000. Check chart Weekly MACD turning Bearish LOL. chart.bigcharts.com Bears rule. Will The North American markets follow Japans 17 year Bear? Long is wrong. Summers almost over where was the rally lol