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Technology Stocks : Western Digital (WDC)

WDC 176.34

-5.8%

Dec 12 9:30 AM EST

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To: Vanni Resta who wrote (7521)	11/12/1997 7:33:00 PM
From: Jeff Mills	Read Replies (1) of 11057

WDC was overdone on the upside when it went to $54.75. And WDC will be massively overdone on the downside. This is how Wall St operates. WDCs marketcap at the close today is $1.862 Billion dollars. Now, if you recall, they took QNTMs marketcap to about $950 Million last year (summer of 1996). And QNTM was/is bigger than WDC. I am not saying WDC will go to a $950 MM cap level, but if it did--the stock would be about $10 a share. I would not recommend buying any drive maker just because you think it looks cheap. These things will go lower and lower and lower, until one day all 3 will jump big. Just like the semi-equipment makers did in October of 1996. Wait until that day to go long IMO. Haggerty sure gave us good warning with that LEAKED internal memo I posted (which I no longer have so do not ask for it). Thank god I got out. I should have gone short. Would have made a mint. JM

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