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Technology Stocks : All About Sun Microsystems
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To: JDN who wrote (17226)6/20/1999 7:59:00 PM
From: QwikSand  Read Replies (1) of 64865
 
JD: Yes I agree with you. There's one thing about that favorable Wall Street City article that left me with a bad taste in my mouth: a basic inaccuracy about Sun's trading history:

Keep in mind that the last time Sun based for this length of time, the stock exploded on a raging bull run, leaving shareholders with a 249% return from October of 1998 to April 1st of 1999. If the volume picks up and Sun can post impressive earnings in this next quarter, we could see a mirror image of this past upleg for this computer systems concern...

Unfortunately, this is BS. Remember twister's previous prediction of a "multi-year high" when SUNW had just backed off from pre-split 52? It was around August 1997. The stock then proceeded to move within a rigid sideways channel for 13-14 months until October 1998. I remember thinking when it finally broke out that twister's prediction could have been technically true if we defined "year" in "multi-year" as "year or fraction thereof" (so 1.01 years rounds to 2).

They say good things happened "the last time Sun based for this length of time". But if "this length of time" means April through June, then the last time Sun based for this length of time, then it based again for the same length at the same level, and then again, and then again.
The guy didn't do his homework very carefully. SUNW has a talent for sitting in a range for a long, long time. I agree with you that it's not likely to move dramatically until 2000 and will require revenue growth.

Regards,
--QwikSand
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