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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (3948)	10/3/2001 4:12:05 PM
From: stockman_scott	Respond to of 13815

Software investors buy on possibility of a bottom Wednesday October 3, 3:24 pm Eastern Time NEW YORK, Oct 3 (Reuters) - Software stocks rallied for a second straight day on Wednesday after expected warnings on third-quarter results failed to materialize and investors moved in to scoop up cheap shares of once highly valued stocks. ``I think people were looking for some aggressive preannouncements,'' said A.G. Edwards & Sons software analyst Mary O'Rourke. For the most part, those warnings did not materialize. ``Typically if a software company is going to warn they do it on the Monday or Tuesday after the quarter closes,'' Chuck Phillips, Morgan Stanley's top software analyst told Reuters. ``I think there's a feeling that many of them have already guided low enough and are going to come with their range for the third quarter.'' Phillips said. Standard & Poor's computer software index rose more than 7 percent in midday trade -- as bargain hunting, short covering and traditional long-term investment purchases helped drive big gains is stocks such as Interwoven (NasdaqNM:IWOV - news), i2 Technologies (NasdaqNM:ITWO - news), Siebel Systems (NasdaqNM:SEBL - news), Mercury Interactive (NasdaqNM:MERQ - news) and PeopleSoft (NasdaqNM:PSFT - news). ``It's more of what started yesterday -- a sentiment that the bottom is near and the market is oversold,'' Banc of America Securities analyst Bob Austrian told Reuters. Interwoven -- which warned on Tuesday that it would miss third-quarter expectations -- rose $1.94, or more than 46 percent, to $6.15. The rise was fueled, in part, by news that it had struck a multimillion-dollar deal with computer giant International Business Machines (NYSE:IBM - news). Software stalwarts were also posting significant gains. Storage management software vendor Veritas Software (NasdaqNM:VRTS - news) was up $3.78, or about 19 percent, at $23.68 Software giant Microsoft Corp. (NasdaqNM:MSFT - news) gained $3.13, around 6 percent, to $56.18. Business management software maker PeopleSoft rose $3.62, or about 18 percent, to $24.16, while selling and customer service software vendor Siebel Systems climbed about 17 percent, or $2.59, to $17.65. Kash Rangan of Dain Rauscher Wessels said software stocks had been oversold on fears that results from the third quarter, which ended Sept. 30., would be hard hit by last month's terror attacks on the Pentagon and World Trade Center. Oracle (NasdaqNM:ORCL - news), Peregrine Systems (NasdaqNM:PRGN - news) and SAP AG were among the enterprise software vendors with undervalued stocks, Rangan said. All were trading higher on Wednesday. Elsewhere, President George W. Bush said his administration was also weighing a range of tax cuts to help spur business investment. The president singled out investment tax credits. Another leading option would allow businesses to write off more quickly purchases of software, computers and other equipment. When asked whether that proposed $60 billion to $75 billion economic stimulus package was helping to boost stocks, Dain Rauscher Wessels analyst Rangan said: ``I can't comment specifically on that, but let's face it, any news is good news at the moment.'' _________________________________

To: Boplicity who wrote (3948)	10/3/2001 7:32:21 PM
From: pinhi	Read Replies (2) \| Respond to of 13815

Bop, are you still in or follow QCOM? Very heavy volume today on the downside in an up market. Any comments? Pinhi

To: Boplicity who wrote (3948)	10/3/2001 11:59:09 PM
From: mishedlo	Read Replies (2) \| Respond to of 13815

What a dreamy day. LOL Is it real. YES! CSCO has spoken. All we now is to find out the reality of what the fight is going to be like and enough time between the reality of what the recovery will be like to build faith in the market and for the recovery to be real to further drive stocks. Remember it's all about perception of what the facts will be. Nothing better to be long between when the facts are laid out with perception being stroked. That's really not hard to understand. If when the facts come out then everyone will have the same information and it should be priced in, so it's better to be buying before the facts are laid out. Facts?! What facts? Is this going to be a repeat of April? CSCO reiterates guidance. That's nice. 2 Cents. 2 Cents!!!! PE over 100 or is it 170? Is that a good buy? If I sound like a huge short I am not. I have been stupidly 80% in cash for about a month. Should have been hugely short instead. Fortunately I closed SMALL VRSN and EBAY shorts for small profits this AM. I believe the market sentiment has changed. J6P no nonger believes the bottom is in. Layoffs are increasing. Fundamentals keep sinking. If the funds want to waste more money let them do it. To be honest, I do not know if the bottom is in or not. My guess is that it is not in. The easy profit was made. It was made TODAY. If you went long the index a few day ago congrats. If you were silly enough to buy NTAP at 10 a week ago you are hugely underwater. 20% gains tomorrow and the next. Ha Ha. I am watching for a bit. AS soon as we stall, I will short. Could be as soon as tomorrow. I am a NERVOUS short. I am a NERVOUS long. Valuations on VRSN EBAY NVDA etc etc etc are totally nuts. Of course valuations on CSCO are nuts. Market will bottom with CSCO at 5. In the meantime they rally everything. That is how the stupid market works. They all rally or they all fall. On bad news some things get hit more than others. NTAP will rise 100% off the bottom. Hell it may rise 200% off the bottom. That will put it at 18. Not a lot of good for someone who bought at 100, 70, 50, 35 (a number I was silly enough to think was the bottom at one point), but at 15 .... That 200% rise will show a profit. Slowly, slowly over time things will return to the norm. VRSN will be at $5 before all is said and done. CSCO will be at $5. IBM at 45. Etc etc. 20% gains from the bottom on JNPR when one was down 95% from 200+ is simply not meaningful. Is this rally ready to die? For my calls, I hope not. For my puts, (a far bigger %) I sure as hell hope so. For my cash, a HUGE% I really do not care. If we rally, I will short, If we drop, I have a decent feeling of where the bottom might be. Naz 1200. Dow 6000. M