Markets rebounding from extreme OVERSOLD conditions today $$$$

Futures are indicating a very strong comeback from oversold conditions.

All the strong tech stocks are bouncing back....led by AMZN,RIMM,AAPL,LRCX,GOOG,SNDK to name a few.

FDRY reports AH thursday.......

FDRY is in networking space and is the "most undervalued stock in that space"

FDRY & JNPR were only $1 apart in April ...now the gap has widened to $14......

So let us do a FA and see why FDRY is a compelling buy "before earning"

Sales Q2 $138.79 million
YOY.............+28%
Sales Q3 $144.05 million
YOY...........+21.3%
Seq Q/Q +$5.26 million
Seq Q/Q +3.79%

EPS Q2 15 cents
YOY....+36.3%
EPS Q3 16 cents
YOY.....+14.2%
Seq Q/Q +6.6%

EPS FY 07 63 Cents
YOY.....+21.1%
EPS FY 08 76 Cents
YOY......+20.6%

FDRY PE 08 21.8
JNPR PE 08 28.25

Based on the above comparison there is a "chance of FDRY catching UP to JNPR by going UP almost 30%"

Also note that JNPR numbers have been upgraded for 08 as they have already reported last week.......

I am almost certain that analyst will raise estimates for 07 & 08 for FDRY on friday.....

JNPR numbers for 08 was revised UP by 5.9% after ER.....

So FDRY has lot of catching UP to do.......

Good luck on today's positive tone.

BLOG does not give buy or sell.

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