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Technology Stocks : WDC/Sandisk Corporation
WDC 155.45-5.0%12:44 PM EST
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To: A.J. Mullen who wrote (7236)10/1/1999 8:51:00 PM
From: Wyätt Gwyön  Read Replies (3) of 60323
 
I am amazed at the way the price has tanked. Naturally this is depressing to longs. However, unless you are margined to the hilt or strung out on short term, out of the money options, I don't think it is such a bad situation. A bad situation, to me, is when the fundamental picture changes. Can anybody explain what has changed in the fundamental picture to warrant a correction from 95 to sub-60--that's going from a bathing suit to a cardigan, and the leaves aren't even off the trees yet! Absent such a change in fundamentals, it looks to me like a good chance to buy in. This type of correction can be counted on with stocks that become momentum-ish (as is the case for all one-year ten-baggers). I find it very exciting and a great opp to load up. Those with there wherewithal to add to their positions may find that the lemons of the current weakness make for great lemonade. But be careful with short term options and only buy far into the money (unfortunately, the price has fallen so far, the newly issued Nov. series is all out of the money!). However, Jan 40s can be had for 22 7/8, or less than 3 dollars time premium--means you're making money if the stock goes to 63+ by Jan 22. Think that can happen? I do.
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