Cory Johnson Chats on AOL, Feb. 9

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Cory Johnson chatted on AOL MarketTalk on Wednesday, Feb. 9. AOL's MarketTalk is hosted by Sage Online (Keyword: PF Live). As with all chats, this transcript is unedited.

Sage Lion:

Welcome to MarketTalk Cory!

CoryJohns:

Let 'er rip, folks. But please, no personal questions about Bambi Francisco.

Question:

Will the NASDAQ continue to rally in the near term in light of Cisco Systems better than expected earnings?

CoryJohns:

Cisco is a fantastic company that is carrying the Nasdaq on its back.

CoryJohns:

But I think that a lot of Cisco's success comes on the backs of its competitors. Look at Lucent's problems in the same quarter where Cisco was blowin' it out.

CoryJohns:

So the answer is.... Maybe, but maybe not.

CoryJohns:

Sorry, I don't mean to be lame, but see where I'm going here?

Question:

Do you think we will se another correction in the Nasdaq, with today being the start?

CoryJohns:

Today was far from even the start of a correction.

CoryJohns:

What's the comp down, 63.5? that's about 1%? It's nothing. Today, me thinks, was indicative of little.

Question:

When a company applies for NASDAQ status---what is the process---how long could it take?

CoryJohns:

It vaeries -- whoa, I used to be able to spell -- anyway a company has to keep it's stock price above a certain level, and show some sort of steady trading volume.

CoryJohns:

But companies coming onto the Nasdaq from another exchange can be sketchy. It's one of the first places I look when looking for a scam.

Question:

What are thoughts on 3coms up coming IPO?

CoryJohns:

You mean the Palm IPO?

CoryJohns:

I don't give individual stock advice.

CoryJohns:

But -- you're on the edge of your seat now, right --

CoryJohns:

I think that Palm is really creating some distance between it and its rivals now.

CoryJohns:

In every new technology, something emerges as an unshakable standard, a monopoly even.

CoryJohns:

Microsoft did it. Intel, to some extent did it. It's not illegal.

CoryJohns:

It's just natural that consumers want a standard. Palm seems to be clearly on the way towards that.

CoryJohns:

You might have seen a recent column on

TheStreet.com

about the Palm IPO.

CoryJohns:

My colleague

Adam Lashinsky

wrote it.

CoryJohns:

You can see it

here.

CoryJohns:

And you can see Adam as one of Silicon Valley's 10 Most Eligible Bachelors.

CoryJohns:

I welcome questions on THAT topic too.

CoryJohns:

I didn't make that up, it was on

Women.com

, BTW.

Question:

Do you think the small to mid size b2b stocks(liox) will move during a rotation out of the large tech stocks?

CoryJohns:

No. Well, I assume you mean move UP. I think that tech moves together, when there are big moves.

CoryJohns:

When the leaders fall, the second tier stocks rarely rise I have a column on this subject on

TheStreet.com

today, as a matter of fact it talks about what makes so many Internet stocks crappy.

CoryJohns:

Can I say that online? Wow, what if AOL booted me while I was having a chat!

CoryJohns:

Next question!

Question:

Do you think Sumners stuck his foot in his mouth?

CoryJohns:

You are referring to the

UPN

fiasco? Yes. Well, I doubt he's seen his feet in a while.

CoryJohns:

But he pays someone for that. I think that broadcasting is a tough business, high risk, high reward.

CoryJohns:

Who woulda thought that the Dubaya-B would be surging just as Dubaya Bush is struggling!

CoryJohns:

I don't think Viacom, in the long run, has made anybody much money, except for

Sumner Redstone

himself.

Question:

How weak is the market right now, and especially toward the down side?

CoryJohns:

What are you guys whacked? We were at record highs YESTERDAY!

CoryJohns:

I mean, this kind of

CNBC

instant-hyper-commentary is nuts. Just because the day was down does not mean the market is weak, especially this time of year, when the funds are sending out their letters boasting of last years' returns.

CoryJohns:

It lets you see what an investment horizon should be. Don't get me wrong, I'm all for trading.

CoryJohns:

But you have to have volatility to get your trades done. But I digress.

Sage Lion:

Thank you for joining us today Cory! We appreciate your insights!

CoryJohns:

Thanks everyone.

CoryJohns:

Now, I don't mean to get off on a rant...

CoryJohns:

But I do all week on

TheStreet.com

And I look forward to hearing from you all there!