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

To: Ibexx who wrote (17978)	10/8/1998 12:02:00 PM
From: The Phoenix	Read Replies (1) \| Respond to of 77400

Ibexx, I read that last post and I'm sitting here shaking my head. Do these guys get paid for these statements? The argument is that worsening global situations will eventually impact the U.S. economy, even though conditions look OK at present. Really? Who's the rocket scientist? From a psychological standpoint, the unraveling of the sacred cows in technology and pharmaceuticals represents a necessary component in destroying all hope and thereby setting the stage for reversal. Setting the stage for a reversal? We're down 13% in 5 days and NASDAQ is off nearly 30% from it's high and we're setting the stage for a reversal. I think most folks would agree we're in the midst of it. This is a little late...don't you think? On the earnings front, internet giant Yahoo may improve this morning after exceeding quarterly expectations yesterday. But generally, the profit news is soft with Agco Corp., Bassett Furniture, File Net, Information Resources and Raytheon all issuing negative pre-announcements. This happens every stinkin quarter. Pre-announcements take the market down at the end of the quarter and those that don't pre-announce come in solid and bring the market back. The difference this time around is market/gloabal economic sentiment. The companies that make up the market are performing as expected. OG

To: Ibexx who wrote (17978)	10/8/1998 12:10:00 PM
From: Ibexx	Read Replies (2) \| Respond to of 77400

Gary, These analysts didn't accurate pinpoint the market on its way down, so why should we believe them 100% for time of the reversal up. Occasionally, however, they do offer glimmerings of insights; for example, most investors have no idea how severely the hedge funds (where the institutions and American "old money" park their $$$$) have affected us--it's behind the liquidation of high quality stocks such as CSCO which was hardly scathed during other recent corrections. Ibexx