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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (2356)	4/8/1999 1:45:00 PM
From: Paul Fine	Read Replies (2) \| Respond to of 14638

Well, nothing like a $1Billion contract(over 3-5 yrs) to get the markets attention. LU went up a week or so ago when they got their's and now it is NT's turn at the trough. Since we are now at a new all-time high(for NT and old Bay), technical analysis gets about as iffy as Poly's tarot cards. There is an old saying on the Street; don't fight the tape! With the Dow up over 200 points in 2 days, and the Nasdaq recovering today, plus actual company-specific good news for NT, we could see positive momentum right up to the earnings announcement. While some may "sell on the news" at that time, we may indeed see new levels for NT going forward. Most things don't go up in a straight line, but I for one would be very cautious about trying to play a "short and buy back" strategy on NT at this time. As today's actions indicate, you gotta be pretty darn nimble to get away with that strategy in the current climate. That check to the IRS is getting easier to write every day! Paul