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Author Topic: Sonus Networks Inc (SONS)
Mehul_Sangani
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Guys, this stock will drop a lot tomorrow. Would strongly recommend to open a new position if you can. I have researched this company and they are very strongly positioned in VoIP.

Please do your own DD.

Disclaimer: I already own stock at $8.32, if it opens below $8.50 I'm adding more.


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GeckoVision
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i planned on adding more to my position in tomorrow at the open once i saw the panic selling after they delayed their earnings. should be good for a few points profit

from bloomberg:
it's a regular audit and its just not finished, that's the story said Michael O'Hara VP of marketing, in a telephone interview. Company auditors at Ernst & Young LLP decided today that they "haven't finished all their work". The audit "should be completed within the next few days, he said.

if that indeed is the story, it doesnt warrant such a drop. Back at 10 in no time

CEO i believe is on CNBC tomorrow at 7:50 should clear up some cofusion

[This message has been edited by GeckoVision (edited January 20, 2004).]


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ththf
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What's the news make it dip AH?
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ththf
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Volume is so huge afterhour.

Some big guy must worry about there 3 financial table.

JMHO


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coolnwo
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So is this a buy!
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Mehul_Sangani
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Their cash position has increased by 50M since 3Q, which means they will beat the estimates. This company is doing great due to VoIP, and I really dont know the reason for delay.

I'm adding to my position tomorrow, I'm playing this as buy-and-hold stock.


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traderjoe
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This does look intriguing.. but one has to ask themselves why they would delay their earnings without providing any guidance more than their cash position.

I've worked pretty closely with some fortune 500 companies, and there is no way it would be acceptable for an auditor to say 'we aren't done with the work yet'..

Something fishy going on here..

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Trader Joe's Market Insights


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pizzaboy
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I'm hesitating to get in 'cuz I feel the potential gain isn't worth the risk...but that's only 'cuz I'm almost out of cash to invest too...been buying a lot this week. GL to you all who bought this thou.
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Mehul_Sangani
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quote:
Originally posted by pizzaboy:
I'm hesitating to get in 'cuz I feel the potential gain isn't worth the risk...but that's only 'cuz I'm almost out of cash to invest too...been buying a lot this week. GL to you all who bought this thou.

I would disagree I think its high risk AND high return at this point. They should come out with #'s within 2 weeks, and if they beat the estimate it could go over $10 in a hurry. Added to my position early morning at $8.51 Again I'm not playing this as swing trade instead buy-and-hold.


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TraderTom
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Thanks for the great tip, Mehul. I got some at 8.51 this morning, and sold part of it at 8.9 later today ..

Also, SONS has an excellent chance of breaking that resistance at 8.9 - 9 tomorrow, IMHO (it drew a rising wedge). I still own a partial position, and will watch it very closely. I'd expect a shart expansion if we break through 9.

[This message has been edited by TraderTom (edited January 21, 2004).]


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Mehul_Sangani
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Glad you made money.

Should be interesting day tomorrow for SONS.

Also I had shorted MERQ on monday, lately had some good swing trades.


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TraderTom
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I just reentered SONS at 8.91 - intraday chart looks really good, and it has a high chance of popping today soon, IMHO.
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BigBubble
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Does anybody have any knowledge or clues about SONS ? They still did not release the latest earnings or any other news. What does everybody here think about that.Is it worth holding and waiting or would it be better to exit?
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Mehul_Sangani
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Correct me if I'm wrong but according to SEC the company has upto 75 days to report earnings after the close of quarter.

I'm still holding mine since I had buy-and-hold, unless of course the company comes out with bad earnings (if and whenever it comes)


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jgoldsbe
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MACD shows it's a good buying point now


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mitrader
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hi,

Whats up with this stock?

It's in a complete crash mode. Does
anyone have any idea on what might be
a good price to enter.

Any thoughts on whether this is a panic
reaction.

MITrader


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Mehul_Sangani
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The company came out with bad news. The accounting problems were already leaked by the volume at which it was trading yesterday & Y! boards already had discussion before the news were out.

I got out yesterday with 15% loss planning to get in, but not until the dust settles, which normally takes upto a week or week and a half.


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pizzaboy
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Hope you guys had stop orders...
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Day Trader
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WTF JUST HAPPENED?
ITS CRASHING FASTER THAN IT RISE.

I'M LOOKING TO GET BACK IN AT .40 CENTS

------------------
Mike

~~these are just my advices and suggestions. In no way am I'm held responsible for your trade loss.
As always, do your own DD.~~


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Nano
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quote:
Originally posted by Day Trader:
WTF JUST HAPPENED?
ITS CRASHING FASTER THAN IT RISE.

I'M LOOKING TO GET BACK IN AT .40 CENTS


you mean enter 0.40 ? Are you joking?


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