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Technology Stocks : Siebel Systems (SEBL) - strong buy?
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To: Boplicity who wrote (3686)7/21/2000 6:14:44 PM
From: mtnlady  Read Replies (1) of 6974
 
"The stock should not be selling down and breaking resistance like appears to be if value was seen."

Greg I think Siebel "broke down" due to profit taking by the momentum investors (there was a huge run-up before earnings), nervousness about the market in general and Siebel not reporting a stock split.

"I have feeling that an extended base building period will be need, maybe two qr., for the market to come to terms with the SEBL's current valuation."

I don't think it will take that long for Siebel to 'come back'. I wouldn't be surprised in the least if we don't see Siebel well over 200 by the time earnings are released next quarter. I have started to re-enter Siebel here (158 today) through calls (November). I expect Siebel's price to get into the mid 140's - low 150's if the market drops down a bit more (3700-3900). Lower if the market tanks (i.e. back down to the 3400-3600 range). In short Siebel is being buffeted more by the market now than by the expectations for the company. My opinion only of course :)

p.s. I wouldn't be surprised to still see a stock split announcement (2-1) after the next board meeting - whenever that is! Unless of course the market takes a huge nose dive. I also wouldn't be surprised to see the board of directors set the split date to be sometime in September to shore up the price of the stock during the potentially difficult market period of August through early Sept.
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