I had been picking up shares below $7, with avg cost about $6 - 6 1/8. Sold most of the position in the 11's. I will get back in if it fades back down.
It's very encouraging with Paul Allen and maybe FVC management can learn/benefit from his experience.
Rem, the RCN, like with the other co's is in "trial" mode. FVC PR's in the past have been strangely sort-of bunched together and then quiet for a while. I may miss out on some gain here if there are further PR's very soon. If no PR's soon, and certainly if none by the quarter end, then be careful of FVC's financial position at the end of the qtr.
They have missed estimates more than a few times. Though the missed estimates in April 2000 was a repeat of April 1999 in terms of stock price action, there may have been some buyers waiting to get in at very low prices. My impression was that mgmt didn't care or try very hard this April to mitigate investor uncertainty / initiate damage control. Video is taking longer to roll out than anticipated by the industry and to get the kinks out of video, I would think that would come after the industry gets the kinks out of Voice.
Fortunately I had sold off my position in the 18-20 area (nope didn't get that 27 a few ppl mention - that was a few hundred shares only, the real high is more likely around 25 1/2), bu did step in with a very small position in the 12 -12 area when it fell 4 or 5 pts one day, seeking the bounce. It did bounce, but I didn't sell, then did sell in the high single digits.
Anyways, I've position traded FVCX a bunch of times and made a bunch of $ on it. |
