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

To: Dennis who wrote (15584)	8/3/1998 6:59:00 PM
From: Paul A	Read Replies (2) \| Respond to of 77400

The term 'size on the bid' means there are alot of folks looking to buy the stock. I was shocked the market took another turn down today but since the volume was pathetic, its apparent that most people are still just sitting this storm out. If CSCO earnings are right in line and the forward look is right on track we should not see a selloff on Wednesday in my opinion. I have watched every trade on CSCO (sad eh?) for the last 2 weeks and notice that whenever the slightest amount of confidence comes into the market people start following the bid up. Even today, there was tremendous size at $98 7/8 but of course the market failed its 3rd attempt to rally so the traders took all their money off the table. Im assuming that most traders/institutions who want in before earnings realize they have the benefit of getting in cheaper as each day goes on. Why buy at $98-99 today if we have a market selloff again on Tuesday? and they can buy back at $95? Anyone long CSCO count your blessings. Lots of stocks got major haircuts these last 2 weeks and CSCO has become the safe haven. Unless something very dramatic rattles the market even further, the next rally will see CSCO well above $100. I also feel that regardless of market conditions, if the earnings/forwards are fine we will see $105-110 by wed. close as people decide to park money in CSCO.