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Technology Stocks : Sterling Software
SSW 9.910-4.7%Feb 27 4:00 PM EST
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To: Albert Wong who wrote (180)9/4/1999 10:09:00 PM
From: Bill Zeman  Read Replies (1) of 206
 
I bought some March 20 calls yesterday at market open at 2 1/2 per contract. I have had the order in for several days at 3 1/4. It would have needed to get into the mid 19's for the options to be that cheap. Schwab took one look at the opening price on friday and immediately negotiated 3/4 below my limit order. As you all know the stock has quickly risen back up to $20 since then.

I couldn't be sitting better with this one! I believe it's weakness over the last year and a half is as follows:

1. General sftwre weakness in anticipation of loss revenues due to Y2K distractions.

2. SSW continued dilution due to new share issue to cover acquisitions.

3. SSW as a tech stock is not viewed as an internet stock and it's earnings are clearly defined. Even though earnings are good it does present the "problem" of a more certain outlook, thus limiting the upward volatility common in tech issues with nebulous future earnings potential especially of the internet variety. Thus SSW suffers from neglect.

ALL OF THESE REASONS FOR SSW WEAKNESS ARE SHORT TERM AND TEMPORARY!!!!!! Sooner or later these issues will work themselves out and the stock will see the 30's again!! I am betting it happens before March 2000. The Y2K problem will be over by then, and the dilution fears should begin to subside with this recent announcement to buy back shares. Now all I need is for investors to notice a screaming buy.

Bill Zeman
20
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