Mike,
I enjoyed your latest article and agree with your BRCD short, ANCR long, at least at these prices - in theory. Keep in mind, however, that now may not be the exact time to take this position as we have another fibre channel storage area networking connectivity company doing an IPO the week of July 19th. Rumor has it that it will actually take place on the 20th. The company is GADZOOX NETWORKS(ZOOX). Following ZOOX, Vixel(VIXL) will be doing one. I don't know the date, but if it works like BRCD and ZOOX, it won't be until sometime in the last two weeks of August. After that, there are no more SAN's connectivity companies that are on my radar.
Personally, I'm going to stick will my Ancor long position as I believe that there is much more news coming from them in the next month. A Brocade short is tempting but I don't think that the general herd of investors has even heard of fibre channel yet. Nor have they associated it to the strategic importance of the long neglected 'back end' of the internet/intranet/extranet. In other words, I believe there's still some major upside here, maybe even for BRCD.
Craig
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