With the recent correction in this stock, I am sure some of the old timers are wondering if xicor will disappoint its shareholders again. I thought you may find this piece from TSC about letting poor past performance keep you from having a open mind towards potential turnaround situations interesting. Is XICO the next ADBE?
I think yesterday was a bottom, but like others, I wouldn't rule out a retest of the six area.
Confessions of a Missed Opportunist
By James J. Cramer
9/17/99 10:47 AM ET
Every time I hit this Adobe (ADBE:Nasdaq) up, I can't believe how I let an old stock-market impression corrupt a new, more vibrant one.
I love Acrobat. It is the product of the Net. It is how we send big stuff to each other. It is everything that Adobe told me it would be a half-dozen years ago when this company had the vision to develop this wonderful piece of software.
I knew that Acrobat had a bright future and that it would impact Adobe positively. But I remembered the old Adobe, the Aldus Adobe, the one that kept blowing up and disappointing and blowing up again.
There is nothing harder than buying a tech turnaround. I stumbled when I did it in Informix (IFMX:Nasdaq). I blew it when I went into any PC maker (Everex, Wyse) that tried to make it back. I lost a bundle in Lotus.
I lost money in Ashton-Tate. I got blown to smithereens in Software Pub.
So, when my good brokers pushed Adobe, I laughed. I had the tire tracks of a dozen turnarounds on my back. I wasn't going there.
Now I am paying the price. In true Doestoevsky fashion, I am keeping Adobe up on my top quote line all day to remind me that when opportunity knocks, it occasionally comes in strange guises. I should not be fooled by past appearances if I love the product and see the turn coming.
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