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Technology Stocks : Vitesse Semiconductor
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To: Anthony Ostroski who wrote (424)1/30/1997 12:50:00 AM
From: Dan Spillane   of 4710
 
Actually, I think the 3Com drop was purely a technical/panic situation. That is to say, it hadn't broken out to the upside and tons of funds are in it. So, all it took was a little shaking courtesy Cascade (which funds also hold a bit of). Topped off, of course by Dow Jones "one-liners". Profitable for some, I'm sure.

If you were a fund manager and held two networking stocks, 3Com and Cascade, how would you make up for the Cascade drop? Sell 3Com, while you were ahead. Ask questions later.

The postitive of course is that "weak hands" are somewhat out of the stocks like 3Com and Cisco. Buyers like me would step in soon.

Dan
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