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Technology Stocks : Harmonic Lightwaves (HLIT)
HLIT 10.33-0.9%3:59 PM EST
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To: Lane Weatherly who wrote (3585)6/20/2000 11:37:00 AM
From: foundation  Read Replies (2) of 4134
 
Lane -

I sold half my shares after management's recent clumsy performance.

I expect an upcoming earnings miss. I believe this was telegraphed to analysts - by what management didn't say. Management feels "comfortable" with year forcasts, which means to me that they think the 2nd half will make up for disappointment this coming report.

Stock is "cheap" if you can believe management. I think the analyst "heads-up" was slimy, and have no confidence in management long term.

I am looking for a better point to shed my remaining shares.

But HLIT should participate in the present mindless fiber bubble if it continues through a summer rally (and I am in the minority in believing that the summer rally is already nearly over). Today should be a big tell concerning summer rally prospects.

And fiber momentum may be on the wane - from Briefing.com --->

((("11:18 ET Momentum Breaks : Beginning to see traders/investors exit shares of some of the fiber optics and genomics stocks, following aggressive price runs over the past few days. Being hit the hardest on a point basis are fiber names SDLI (-13) and GLW (-12 5/8), DIGL -6. From the genomics group, witnessing a reversal in PDLI -9, CORR -4 7/8, IDPH -4 1/2."))) --- Wit Soundview downgrade of some fiber co's didn't help either.

Good luck.

regards,
blg
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