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Technology Stocks : Read-Rite

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To: Bald Man from Mars who wrote (3836)	8/3/1998 6:33:00 PM
From: Stitch	Read Replies (1) of 5058

Bald Man; <<Why is this dude making new lows everyday ??? >> With the whole market behaving the way it is it may be better to back off and take a larger view. RDRT is still a "bad news" stock in a very skittish market. Advancers are outpacing decliners by more then 2 to 1 and the NASDAQ and Russell 2000 are losing ground daily. The tech sector in particular has seemingly taken a double dose of valium and sits there with vacuous stares and drool running down their chin mumbling something about the global IT revolution. In this market what do you expect to see RDRT do? In my opinion, if you believe that RDRT is a survivor during this shake out period, you may consider accumalating more at these prices. I would'nt. I don't have the cajones for that. I don't know if our "wall of worry" is one of those tilt up pre fab jobs that was constructed overnight or whether we are in a minor correction mode. I simply don't know. I am staying on the sidelines for the time being. I must be a very small part of a growing pool of liquidity. Will it divert to Europe? Or are we finally starting to stuff mattresses? This from the Street.com "I just think it's a very nervous market," said Ned Collins, executive vice president of U.S. stocks at Daiwa Securities America. "We're extremely sensitive to all the earnings reports and to all the statements made by companies on Asia and all that goes with it. It's surprising to me, but people say they're still nervous about the White House situation. I just think we're in a consolidation phase, perhaps a correction phase. All in all, I think we're still in a bull market. We may have a couple months of struggling, but I think the market is still in good shape." Best, Stitch

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