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Technology Stocks : S3 (Multimedia semi's place 2be)
SIII 0.00010000.0%May 12 5:00 PM EST
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To: Dave O. who wrote (8049)3/4/1997 2:13:00 PM
From: Keith Dykstra   of 9477
 
Dave,

It certainly appears that S3 has entered a rectangle and that trading will be give and take within this narrow range. The overhead supply coupled with the reported increase in shorts tells me that a lot of people are playing this stock. I realize that I am probably the only person on this thread that believes that S3 has peaked for the year but I still hold to my convictions and am not expecting this stock to hit 24, let alone 30, until after labor day with the start of the next upward cycle.

My reasons remain the same. It is not S3's fault. Its the economy or Greenspan's perception of it. If it can't get any better than this than surely it will get worse. We all know that this run has been dominated by the large caps and the run is showing signs of potential weakness. If Greenspan takes the punch bowl away from the table by raising rates then the correction that everyone is talking about will probably come. OK by me, I can wait. If the mid-caps and less don't participate in this current run then maybe the fall will be short and quick and we can all get on with the notion of making money. What concerns me is, if the money does flow to the lesser knowns then I will be looking for the trapdoor that lies beneath the market's feet.

In either event I am not looking for S3 to do much during the interim.

Keith
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