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Technology Stocks : American Power Conversion
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To: Zanga56 who wrote (1470)6/15/1997 10:34:00 AM
From: Phillip Crone   of 2574
 
Tom, thanks for the kind words but let me set the record straight. I bought APCC in November (estimating) of 95 and averaged down over the next 6 months holding over 20,000 shares with an average price of around 10. I sold too early in the fall of 96 at 14.375. Nice gain but I missed the easiest part of the move which would have made me another 300k or so in just 6 weeks. I did make the call down to 16 and I bought 10,000 shares which I sold a few days later at the 19 and change price which was a nice short term trade. I am looking for APCC to break 16 and go lower when the overall market finally cracks here in the near future.

By the way if I may be allowed to tout my own horn on another subject. Many of my lifelong dreams have come true at the good ole rip age of 35. If you are interested look up the stock symbol MCSC on Yahoo stock search and check out the news items. My company Data Associates, which I was a 49.9% owner in was just acquired by Miami Computer Supply Corp. We had become a big player for APCC here in the Southeast and now I am looking to become one of APCC's largest resellers in the country. My partner and I are responsible for the power protection division of the 100 million dollar MCSC and with their 90 sales reps we are going to take APCC and grow the business substantially. So even though I am not going to buy APCC at the 20 dollar plus range, after it hits my predicted down turn here this year I am planning on accumulating a substantial portion of the stock to hold for the longterm.

Thank You,

Phillip
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