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

To: Jacob Snyder who wrote (55172)	9/10/2001 4:32:23 PM
From: Ed Forrest	Read Replies (1) \| Respond to of 77400

Avici stock tumbles after outlook, job cuts. biz.yahoo.com

To: Jacob Snyder who wrote (55172)	9/10/2001 4:35:04 PM
From: Stock Farmer	Read Replies (1) \| Respond to of 77400

Jacob - I don't think we have a bottom yet. For example, to put in a bottom, we need fear. Not orderly profit taking, and a sense of relief. Perhaps it is kind of like the feeling when the heroine finally looks in the closet with the scary music playing... and sees nothing. Only to be followed moments later by the creature lunging out from under the bed... Predictable... but it gets me every time nonetheless. Today we looked in the closet and there was no bogeyman. As I mentioned earlier what we have now is hope. As you articulated. Hope that the bottom is soon in. Hope that we will profit from entry points. And hope of more profit shortly. Bulls and bears alike. I have been cruising the topic threads. I made the mistake to post where welcome is in direct proportion to optimism... so now I just lurk. And what I see there is more of the same as we see here. By and large the majority of posters are discussing reasons for the stock price to go up. Cursing analysts on down days and following the upgrades of analysts carefully. By and large they are intolerant of unsubstantiated claims of downward price pressure. Yet latch onto unsubstantiated views of upward price momentum. And above all discussion of "valuation" takes as its starting point the assumption that stock price and business results somehow deserve to be welded together at this juncture. A leap of faith that is not obviously warranted. And those who do attempt to ask "does today's business deserve today's price", still come up with "no". And are then shouted down. In some places more feebly than others. So I suspect that today's action is merely profit taking. Which apparently is a good thing to do in a bear market. This is of course merely anecdotal evidence and I may be guilty of selective viewpoint. Which would be a good thing, because it really won't be until such time as the logic of the bearish case is garbage that you will see a bottom. So I'm doing my bit :) John.