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Technology Stocks : Emulex, What Prospects?
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To: Patrick J. Saunders who wrote (375)5/26/2000 10:45:00 PM
From: Fred Gohlke  Read Replies (1) of 788
 
Patrick,

Here are two things I think you ought to consider.

1) What multiple will the market assign to EMLX when the current violence has run its course?

2) Is optimism for the sector indicated while the market is punishing QLGC (an EMLX spin-off)?

We are in the throes of a bear rampage. Someone much smarter than I once said, "Don't fight the tape."

I am a long-time EMLX/QLGC investor (since before the QLGC spin-off), and am currently out of both, waiting for what seems like a good time to commit again. It is an extremely hard call. When they light the fire under EMLX, it will be off like a rocket. It will be hard to get a seat, but I'd rather look for another winner than get caught on the short end, if "the market" decides EMLX should be assigned a much lower multiple. How will I know? I won't, I'll have to read all the tea leaves and chicken entrails I can find when the market seems more hospitable than it does right now.

I trust you realize that this is an opinion, not a recommendation.

Freddy
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