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Kimmel: Nortel looks good
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January 4, 2001: 4:18 p.m. ET
Magnet Management portfolio manager is also upbeat on Ciena and Oracle
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NEW YORK (CNNfn) - Jordan Kimmel, portfolio manager at Magnet Management, on Thursday advised investors to use Nortel's weakness to accumulate the stock. Kimmel was also upbeat on Ciena.
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Name: Tore, (Location unknown)
Question: Nortel (NT: Research, Estimates). I bought Nortel when it went up to the $80's and now its in the low $30's. I have a one-year time frame. Should I hold or sell and invest elsewhere?
Answer: I really like NT. I think you use the weakness to accumulate the stock. However, if you really only have a year-one time frame, I think there are better ideas, like Ciena (CIEN: Research, Estimates).
Name: Unknown
Question: Wireless Facilities (WFII: Research, Estimates). What is your short-term outlook on Wireless Facilities? Should I start buying at these prices?
Answer: What confuses me about WFII is that their fundamentals are really excellent. However, the chart tells a completely different story. I would prefer to focus on those few stocks with both positive fundamentals as well as technicals. But bottomfishers probably have a good play here.
Name: Don, (Location unknown)
Question: Quest (DGX: Research, Estimates). Global Marine (GLM: Research, Estimates). I had Quest at about $30 at the beginning last year, and sold it at $98 about a month ago. Should I try to get back in with a pullback like today? Also, what is your forecast on Global Marine?
Answer: Great trade on Quest. You probably want to use the pullback to buy. Also look at Laboratory Corp. (LH: Research, Estimates). The oil services sector is too cyclical for my own taste, but I think you have further upside with GLM.
Name: Malik, Saudi Arabia
Question: Ciena (CIEN: Research, Estimates). What is your outlook on Ciena? Will it bounce back?
Answer: Yes there's hope. You have to extend your time horizon out a couple of years.
Name: Steven, Miami
Question: Sycamore (SCMR: Research, Estimates). Amazon.com (AMZN: Research, Estimates). I currently own shares of Sycamore but would like to buy shares of Amazon. Most consider it risky but I only invest money I can afford to lose. What is your outlook on both companies in the first and second quarters?
Answer: I think that Amazon is a poor bet, and Sycamore has extraordinarily high valuation. Even though you're investing money you could lose, it's still better to look at other options like Ciena (CIEN: Research, Estimates) and Oracle (ORCL: Research, Estimates).
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