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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: MIKE REDDERT who wrote (11385)	7/30/2001 5:16:45 PM
From: Daniel G. DeBusschere	Respond to of 12623

Sure sign the market is finding a bottom in tech and telecom- <<While Merrill Lynch did not cut estimates on the index, it did suggest that investors remain underweight in the tech sector as the firm expects a long frustrating workout for this area of the marketplace.>> I believe this comment was the catalyst for today's negative results but my humble experience has demonstrated that when ML starts to throw in the towel, the down draft is pretty well exhausted. Trader's recognize this and start accumulating along with ML's large inside clients. It provides a lot of cheap stock to rebuild a position.