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Technology Stocks : PROCOM TECHNOLOGY(PRCM)
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To: Cosmo Daisey who wrote (345)11/18/1999 11:35:00 AM
From: AJ Berger  Read Replies (1) of 373
 
Gilder newsletter readers are not stupid

they won't buy this stock because of
a positive 'mention' in the newsletter
after it's already just doubled after
being dead money the past 2 years.
I don't agree that some trickle of
potential new longs over the coming
weeks will make any difference.
The only thing left that will help
this stock while it's wound so tight
is any good news from Procom itself.
Good news will be forthcoming as
they have done a good job of taking
their product mix away from commodities
toward higher margined intelligent
products, but we have yet to see
how the new product mix has helped
the bottom line. Until that day,
PRCM will most likely find a new
bottom in the low teens, and then
rise or fall on the merits of it's
upcoming earning report. Don't
forget that iionline was pushing
PRCM for a year and could not move
this stock. How it reacted now
is simply a factor of all the cash
sitting on the sidelines looking
for a safe way to appreciate. I
can't tell you how much garbage is
going up now simply because secondary
stocks look cheap after the large
caps have been bid up so much already.
Stocks are starting to look overbought
but there is so much money on the
sidelines, nobody seems to notice.
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