That's a tough one Tele.
LU seems to have the "most favored trade" status, and as usual, NT is pulling up LU. When "They" want to sell LU, they'll sell NT. The charts don't lie on that.
I (still) think we're in a over valued state short term (1-3 months), and I still think we'll see some overall profit taking in May, if not before. The markets can't be looking ahead that far? I mean, the first year of a new president is usually down. There's still no significant job growth.
Yeah, if the institutions look beyond the fact that LU may or may not be profitable for the rest of the year (~Patty's words, right?), the PPS could go up on pure speculum (heh heh). After coming out of a death spiral of the telecom equipment sector (who needs infrastructure?) to near bankruptcy, is the talk all about "we need to look out past 2005 to see the real value here?"
There's short interest building here, I'd imagine (Bear = valuation). Maybe the white knight funds are running stops?
It's hard to think with all of the flushing and the keyboard is getting a little wet too. (flush, flush, flush, etc.)
If there are any more major contract announcements (ala Verizon)by either LU or NT, all bets are off. It'll be zoom city.
Have I turned into the contrarian view?
Good luck,
Ben
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