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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: Skeeter Bug who wrote (1999)9/20/1997 12:59:00 PM
From: Jeffrey L. Henken   of 3431
 
Skeeter you got P2K. Did it corrupt your hard drive? Seriously GEMS is oversold with support at 13 3/8's. If that holds we might actually see a reversal soon. If not we had better have more money to buy shares or calls or whatever as the stock falls before earnings again.

Remember when the stock hit 8? Of course you do. Well earnings were not that bad and then they actually improved a bit the next quarter. I think we will meet earnings expectations although I doubt that we will exceed them. The trouble is that there just isn't any real visability on where actual earnings growth will come from in the immediate future. Therefore with the stock falling and MOT reporting an earnings slowdown most new investors will probably hold off before buying GEMS.
Even Amir and Van Wang have been slow to repurchase shares. I don't blame them. I mean even the GEMS SUCKS post hasn't helped yet.

But the one thing we both know is that if we are patient the stock will turn around. After all it is becoming a greater value each day. After earnings or a big contract announcement GEMS could gain just as much upward momentum as it has had moving downward lately. After the reassurances from management the other day we can be reasonably sure that earnings will be very close to expectations.

I personally am setting aside some cash waiting for one of those days right before earnings when we see several million shares traded. A down day perhaps like two quarters ago when GEMS hit 8. If it happens I know you and I will both be ready. Earnings will be reported on Oct 27th. regards, Jeff
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