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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area
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To: Rick C. who wrote (2240)11/8/1997 5:58:00 PM
From: Iris Shih   of 37387
 
Hi Rick~ Good job on those index puts. I just don't have the heart for puts or shorts yet. Need more trading experience I think.
As much as I dislike asnd now, I am trying to find something interesting on it to keep me not abandoning it. Found this post by Jay Harris( a fund manager) on SI
"Cisco saw low double digit sequential growth in remote access with a new product comming out next year with good density (I think over 2,000 ports on a 7 foot rack. I will try to answer your question once I have my notes(middle of next week). I own ASND and I'm currently getting taken to the wood shed. I still think Ascend can earn $2.00 in cal 1999 and that a 25X P/E will get me to $50 for a double.
However, everyone is currently jumping into this space and I expect remote access ports to decline substantially in price in cal 98. They could possibly follow the path of fast ethernet from a price perspective. Remote access is hurting ASND currently at 50% of revenue. This business will recover in time (12 months). ATM and frame relay at ASND are beginning to build nice momentum. Ascend still has a very good technology portfolio and would make an excellent aquisition for a large telecom equipment vendor trying to speed up the Telecom deregulation market opportunity."
On the other hand, ASND's CEO sold part of his holding not long time ago. What does it imply? Lacking confidence on his own company? Oh well! I only have a few asnd shares which I bought by using the profits I got from cymi. Not a lot to make a big loss. Should have tracked it more carefully. Wait it to bottom out and buy some out of money cheap calls. It worked out well with pair last time though.

Slb got mentioned on Wall Street Week last night. If market stablizes next week, slb might get a boost from the recommendation.

I like semis here but am still trying to figure out how the SE Asian currency proble will affect them. Intel point out problems in Asian but offset by the European market recovering. Found this report on Klac:
SAN DIEGO (CBS.MW) -- KLA-Tencor Corp. said
Tuesday that the latest economic shocks roiling Asian
financial markets will jeopardize the
semiconductor-manufacturing equipment maker's revenue
and gross profit margins in coming quarters.
Chief Executive Jon Tompkins said his Asia-based customers
now account for around 20 percent of the company's
worldwide sales volume -- well below its average historical
level of 30 percent. But he said the Asian portion of its sales
should remain below that average for "the next couple of
quarters.''

I probably will wait until AMAT's earning report next week to give me some ideas about semi equipment makers' near term future.

T shows resilience during the sell-off. Might get back in when it dips again. Watch mrvc, dy, rmbs, pfe next week.

Regards,

Iris
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