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Technology Stocks : Verity (VRTY)
VRTY 2.4000.0%Dec 22 4:00 PM EST
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To: Saulamanca who wrote (919)12/15/1999 3:11:00 PM
From: Cymeed  Read Replies (2) of 1011
 
Jim, I hope you are not talking me into buying Verity right now :o).

Generally, when a stock takes a plunge like this, it will bounce back a little in the next few days, but it will eventually go below today's level before it recovers if ever it does. At least that's what I remember in many nose dives I took :o).

VRTY used to be a momentum stock and now the momentum is gone, and I don't think it can return quickly unless there is some technical base being built and it is almost proven that the stock price is unfairly punished. Right now, I am not sure if it is unfairly punished. Its drop might be justified as well. I just don't know and that's why I ask the question and participate in these discussions.

P.S. I think we are trading below 200 DMA right now which is another dangerous sign. The stock is not cheap any way in terms of price to sales ratio albeit PE ratio is not too bad. The already high profit margin has made me nervous in the past because when you are making 90 cents off every dollar of products you sell, the only direction that can go in the future is one way and that is down. So PE ratio does not mean much in this case. I am sorry for the longs though. I know how you feel right now and I was there before for many times. But at this point of time, I have to ask those questions and share my honest thoughts even you may disagree.
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