FSII - The Worst is Over? Message Board

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Technology Stocks : FSII - The Worst is Over?

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To: Joe Dancy who wrote (1321)	8/16/1997 12:21:00 PM
From: Donald Wennerstrom	of 2754

Joe, Good to hear from you. Yes, I made a couple of observations on 3 August about TGAL in posts #1270 and #1276. Since that time, the stock has moved up nicely in percentage terms and now sports a higher PE. On 3 August, Zacks had a FY-97 estimate of -0.01 and FY-98 estimate of 0.80 per share. Today, they are carrying a FY-97 of -0.36 and FY-98 of 0.68. The ranking has slipped from 1 out of 37 companies to 3 out of 36 companies. This scenario is another outstanding example of the fallacy of taking estimates at face value. I have written several times previously of how I was sucked into buying FSII over a year ago by believing a set of estimates. The "real" market makers are using a different set of criteria than current estimates to make their buy and sell decisions. Regards, Don W.

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