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Technology Stocks : Quest Software Inc-(QSFT)
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To: Lucky888 who wrote (38)9/8/1999 10:52:00 PM
From: Kelvin Taylor  Read Replies (2) of 67
 
Lucky-

My real point was to say does QSFT have the same momentum as the other stocks I mentioned. The underwriters of each one of these stocks(NTOP/RHAT/QSFT/etc.) are going go give buy recoms regardless of the fundamentals. I full agree with the skyhigh PE and the company may not be in the same field with other software stocks you listed. However, other stock like JNPR and ABRA are well over $100 share and both are losing money. Do any of these deserve the prices they are trading for now? What do they have to justify such prices? I'm sure there were folks who thought PHCM had run its course @ $100 or JNPR @ $125.

As Mr. Valentine at Quicken.com said some time ago, a stock in not undervalue or overvalued it market valued because its worth as much as someone is willing to pay for it.

I don't know what the longer term price is going to be for QSFT, but technically the upward momentum is in its favor.. the old WallStreet saying" Don't fight the tape". I shorted a stock sometime back because it looked way over valued. Company had a PEG of 2.1(MF says to short with PEG over 1.7), PE of 136 and the EPS did not beat the street. Shorted @ $60 and the stock zoomed to 82 then announced a 2:1 split.
Major mistake. Luckly I covered in time and didn't get hurt bad.

When I see the upward run stop I'll move on and may then consider shorting too. Right now if the company releases any thing considered "major news" look out. Sky may be the limit.

Again all the best to you. Just be careful :o)

ps any others you know about that might be good shorts?

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