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Technology Stocks : PMC-Sierra (PMCS)
PMCS 11.650.0%Jan 25 4:00 PM EST
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To: Trader Dave who wrote (2603)7/21/1999 3:40:00 PM
From: Toby Zidle  Read Replies (1) of 3818
 
When you talk of PMCS cratering in the fall/early winter due to a y2k panic, that's really a different discussion from what I've been talking about. I am convinced that for the moment PMCS is in an uptrend, albeit one that got overextended in Friday's +$12 1/2 run. I expected and got a pullback from the $82 level. How far down the pullback will go is a matter on conjecture - perhaps down to $70 to "fill the gap". {DB is chuckling here, I know.} So now we're around the $74 mark. This is within the parameters I expect and may be near a local minimum price. For me, PMCS is a buy, though with risk to $70, before an uptrend reasserts itself.

The 'enormous pressure' you see for fall/early winter might be there. But if PMCS has the potential to reach $100 - $120 in two months by mid-September, I think an investor is wrong to turn away from the stock NOW in fear of a still hypothetical panic some months in the future.

Further, as you say, you're talking about market risk, not PMCS-specific risk. So wouldn't you be looking to invest in the strongest stocks now (like PMCS) to maximize your assets before you decide later to pull out of ALL stocks?

I still don't see a convincing reason not to be buying PMCS at this time.
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