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

To: t2 who wrote (80108)	7/12/2001 5:24:23 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 99985

I actually looked at JNPR in AH when it was down more than a buck, on about a million shares, now it is up on another 200,000 shares, not confidence inspiring. I have not had a chance to look at their numbers yet. Zeev

To: t2 who wrote (80108)	7/12/2001 8:11:46 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 99985

NV, I have looked at the numbers and at their "looking forward statement", it seems that for the next two quarters at least, the yearly earnings rate will be in the range of $.36 to $.40 per share (no counting "non recurring charges"), unless there is good reason to assume that growth rates in the 50% annually will resume shortly (and they say these will not), the current pricing of the stock is out of line with most rational valuation models. I still think that once this rally loses some wind, the major trend is down, and as I have suggested to you on June 9th (#reply-15920373) the stock was between $38 and $41 on the prior day), I expect it to through at least around $20. That will still be a solid P/S of more than 7 and a PE of $53, very generous valuations for stunted growth. In the meanwhile, the major resistance is just under $32, and if it takes this ot by some magic, $37.75 should be the max on the next move, IMTO. Zeev