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Technology Stocks : Emulex, What Prospects?
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To: Yak-attack who wrote (271)3/29/2000 6:39:00 PM
From: Guy Gordon  Read Replies (3) of 788
 
RE "insane not to buy EMLX..."

No. You might just be cautious. For example, we closed at the low of the day. That usually means more selling tomorrow. Second, we broke the up-trend on heavy -- no, extrememly heavy volume. Third, the PE is still insanely high. Fourth, the 200-day Moving average is a mile down at 81. (No, I don't expect it to go that low.)

I'm just not going to try to catch a falling knife. That's not my trading style. I can't tell you where the bottom is for EMLX. I can't even tell why it's trading down. So I don't know when to buy.
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