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

To: John Wu who wrote (10777)	12/12/1997 2:43:00 PM
From: Orhan Birol	Respond to of 77399

The reason for the drop is the 10-Q information on inventories. Just hit the DJ tape. Sold 10 Jan 80 calls naked @ 4 5/8 covered @ 3 1/2, 1/2 hour later. Orhan

To: John Wu who wrote (10777)	12/12/1997 5:12:00 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 77399

And CSCO joins the party! All the other tech leaders (INTC, AMAT, SEG, CPQ) are here, and I was wondering when CSCO would show up. It looks like MSFT is on the way, too. Good thing I didn't buy them with the rent money. The amazing thing is that the market seems unable to distinguish the good from the bad. Leaders and laggards, commodities and brands, good and bad balance sheets, it's all "tech", and it's all invited to the party. Just bought a great book, "TA Explained", by Pring: "To be successfull, the technical approach involves taking a position contrary to the expectations of the crowd. This requires the patience, objectivity, and discipline to acquire a financial asset at a time of depression and gloom and liquidate it in an environment of euphoria and excessive optimism."

To: John Wu who wrote (10777)	12/12/1997 6:17:00 PM
From: Thomas G. Busillo	Respond to of 77399

John, you gotta love those analysts. Both Merrill Lynch analyst Joseph Bellace and Donaldson Lufkin & Jenrette analyst Stephen Koffler, although still bulls on the stock, pointed out a potential red flag in Cisco's 10Q report, filed Tuesday with the Securities and Exchange Commission. Koffler confirmed he made the comments; Bellace didn't immediately return a call for comment. God forbid they would actually have asked CSCO's mgmt. to breakout the finished goods component during the conference call. These guys were on the conference call right? And they do understand that inventory is composed of raw materials, WIP, and finished goods? Right? And now they appear to be quite the "savvy" little investigators. Thank you Mssrs. Bellace and Koffler for demonstrating your ability to read. Such goes life on the Planet of the Analysts <g> Good trading, Tom