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

To: Gottfried who wrote (59385)	5/8/2002 5:35:50 PM
From: RetiredNow	Read Replies (1) \| Respond to of 77400

I agree. In today's move, Cisco closed higher than the 10, 20, and 50 day moving averages. This is EXTREMELY bullish. If it closes above $16 tomorrow, this thing could continue to rise, based on technicals. What really suprised me about today (not to mention that I really believed the stock would DROP today, not rise) was the volume and the high technical close. The market is broadcasting to us that they will pay a premium to own Cisco and that the big money mutual funds want a permanent piece of the action. I didn't think it would be possible anymore, but now my $25 yearend prediction may not be so far off the mark. It's funny how one day can change everything, eh? :)

To: Gottfried who wrote (59385)	5/8/2002 6:30:24 PM
From: Jerome	Read Replies (3) \| Respond to of 77400

>>>this rally has a lack of conviction to it.<<< Lets see where we are a week from now. Everything I owned was also up today. I grant you that CSCO has done well and deserved the nice recovery today. But has the situation changed for any other tech stock that had been dragged up by the strength of CSCO? What have we seen for the past few months .....a one or two day rally followed by a gradual 6 to 10 day decline. Why would today be any different. Lets revisit this topic in a week, and If I'm wrong I'll have no excuses. From what I have seen in the past month is that companies have rallied on earnings and that was about as good as it got. (MSFT, INTC,ADI, TER, KLIC,) These companies are now trading comfortably under the date when earnings were reported. Todays rally does not bring them anywhere near where they were on the date earnings were reported. A lot of factors are involved in a major rally (politics, interest rates, outlook etc.) What did CSCO report....no great growth for the next quarter. I'm glad CSCO did well. But consider the alternative. Had CSCO missed earnings, CSCO would have collapsed to the 10 range and taken the techs down even further. Todays rally was more of a celebration that CSCO did not fail. But is the outlook any better for the other techs today than it was on Monday???? This is important because if the other techs return to the downward slide CSCO will be dragged lower. JMO....Jerome lets revisit this in a week or so.