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

To: HH who wrote (56391)	12/5/2001 4:09:47 PM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 77400

HH, I don't consider CSCO a good short. Take my short of JNPR this late morning/early afternoon for instance. The stock made a previous high of around 27ish. As the indexes rocketed higher today, the stock just wouldn't move. Then, boom, end of day, sell off...that's the big boys selling weaker stocks under J6P's nose. Stocks that are not confirming their previous rally highs with new highs in the index are ripe shorts, in my opinion. This includes many of yesteryear's bellweathers such as JNPR, YHOO, etc. YHOO was down in the afternoon before rallying a huge 15 cents. Anyway, the absence of more and more stocks participating in this rally with short-term highs leads me to believe the end is near. The rally should broaden out not narrow in. Everybody is expecting a rally into the end of the year, and while I don't see a crash by year end, I certainly can't see higher highs. This will probably formulate into a head and shoulders pattern (like Spring)...where we move down hard and fast from here until mid Dec, then rally into year end (duping everybody and getting Momentum players deeper in), and then go busto in 2002. One must always hedge when shorting. Though this market is terribly overbought, we saw what happened in early 2000. Conventional wisdom can be very wrong and you have to protect yourself. *edit - just saw AMZN down for the day - could be a ripe short...opportunities galore.