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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (10735)	8/6/2002 4:34:23 PM
From: Dave Gore	Read Replies (1) \| Respond to of 16631

Market looking at CSCO news as "Well, ahhh, hmmmm....". While the stock buyback could certainly ignite a market rally, it's also possible the premiums are going to get sucked out of the calls and puts and the stock may settle in around $12.50 for awhile. They beat by 2 cents on a tiny rev. miss (essentially in-line) so that tells me that either product margins are up or their costs are down. If the former, that would be especially positive because margins don't go up if demand is slack. PE is not that unreasonable but not super cheap either. Still CSCO is doing far better than most techs if the accounting numbers are "clean".