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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (34974)10/31/2001 11:46:54 AM
From: Johnny Canuck  Read Replies (1) | Respond to of 70550
 
03:54 ET Alcatel (ALA) 13.76: French telecom company reported a much wider than expected Q3 loss of $0.45 a share... Consensus estimate was for a loss of $0.13, according to First Call... Sales for the quarter fell 18% (from year-ago levels) to 5.6 bln euros... Company to cut another 10,000 jobs on top of the 23,000 jobs already slashed... CFO notes that market to remain bad for best part of 2002... After opening down nearly 4% in European trading, stock has trimmed its loss and is now down about 1%.



To: Johnny Canuck who wrote (34974)10/31/2001 4:49:16 PM
From: Clint E.  Read Replies (3) | Respond to of 70550
 
Hi Harry. What a day! Networking stocks were under pressure all day, perhaps because of ALA.

We could be trapped in this 1650-1720 range until next week when Cisco reports. Playing for dimes and quarters could be the way to go.


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