Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: mishedlo who wrote (35025)	2/28/2002 8:17:32 PM
From: Dave Gore	Read Replies (2) of 99280

Not buying anything longer term here. It's still too early until/unless we start seeing upside earnings announcements in 2-3 weeks. Technical bounces are possible on the storage sector, no question, especially if they drop a bit more. EMLX and BRCD have decent earnings projections of 53-66 cents eps in FY2003 and profitable this year, too, so PE's are not as outrageous as many think, but I don't know how many trust the consensus yet. Buying EMLX near $31 today when it held was a trade I like, near a whole number and the Naz was still green and going up at the time. If it broke down below $31, I risk .3-.5 points and I knew if it broke above $32, yesterday's LOD, it could test $33. So the upside was more than the down. Hey, it worked out pretty well. Many do, some don't. I look forward to the day when we can buy and hold for days or weeks or even start adding stocks to retirement accounts. In the meantime let's hope there aren't many more GNSS's out there.

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