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Technology Stocks : Safeguard Scientifics SFE
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To: michael r potter who wrote (3084)6/15/1999 12:09:00 PM
From: michael r potter  Read Replies (3) of 4467
 
FWIW, SFE $60 3/4, just bought mod. amt. of trading stock back. Reasons are based on nothing concrete. Just a feeling upon waking that the degree of oversold should produce a bounce. Also, bond market quite oversold. Am more comfortable with SFE from a valuation standpoint [especially compared to some other pure internet plays], as its NAV is probably upper $20s, which means one is buying the B to B Internet and other private investments for around $1 B or $30 to $33 per share [est]. Doesn't sound unreasonable given the bright future of Internet Capital Group and other private stakes. Kind of doubt SFE will trade in low $40s [assuming the current NAV of publicly traded co's holds up as it has been doing]. Similarly, kind of doubt $100 will be reached again this year. Could spend a lot of time between $50s and $80s. Probably to soon to bet the farm, but with the price down 50% from yearly highs, hard to be overly bearish on SFE. Maybe todays buy was nothing more than a case of cash raised burning a hole in my pocket and jumping in early on the first sign of slight stability. We'll see. Hope all are having a good week. PS AOL got within $2 of its 200 day m/a and has bounced right off-it's also getting a stochastic crossover to the buy side. It of course is the bellweather, Mike
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