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

To: RetiredNow who wrote (60688)	8/6/2002 11:28:20 AM
From: larry	Read Replies (1) \| Respond to of 77400

mind, Me too! I made a bad decision buying QQQ at 22.50 two weeks ago. Should have sold at 24.50, but wrote Aug 24 covered calls instead. And I have held some gold for too long. Sold all with a much less gain on these shares.:( (I think that the gold will make at least one more significant push in Sept. and Oct. anyway) Just kidding. Am willing to add at 20 for QQQ. Now back to CSCO. I think that it has 50% chance of going over 13.50 tomorrow, and 50% chance to going to single digits some time this month. The market seems to like mad swings more and more on a daily basis.:) And you also need to pay attention of traders taking advantage of the Fed rate cut BS to pop the market as high as possible, at least this week. if the Fed indeed cuts next week, I think that we will get a quick pop and then sell off all the way to Sept. If AG believes that a 25-50 point cut will cure the pain for the market, he is an idiot. A 475 basis point cut has caused the NAZ to go down 50%, S&P 30% from the level before the cut. And according to some data, we have been throwing 3 bucks for a mere one buck gain shown on the GDP figure. Admit it: lower rates just does not work. The only thing that it's working is that it created another giant bubble in the housing market that are ready to burst. The investors will deem another (series of) cuts as total lack of confidence on the side of the Fed and drive the market lower. And, on paper, it will make the US look more and more like Japan, even if the economic situation is totally different. If we get a CSCO led rally, I will probably close my QQQ position and buy back the shares at a significantly lower price. good luck, larry