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Technology Stocks : Stratex Networks, Inc. (STXN)
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To: The Ox who wrote (1600)10/21/2004 10:46:48 AM
From: Rob Preuss  Read Replies (1) of 1762
 
I have no clue why the price plunged. I doubt it has anything to do with STXN fundamentals. I suspect its more reflective of broad-market jitters over global socio-economic issues (terrorism/war, energy prices, politics, etc). I wish I'd been prepared with available cash as I would have liked to take advantage of the plunge with another buy order... still, since I already have 170% of the number of shares I wanted to hold (so I'm WAY overweighted in STXN right now), its probably just as well that I couldn't push this to 180%.

Its amazing to me that there are any sellers at all at these low prices. I can only think that these sellers are large institutions and mutual funds who buy and sell smallish lots in a formulaic fashion. The only other alternative is that there are a lot of disgusted small-fry that are finally throwing in the towel... I recently gave up on Chyron (CYRO) and took such a loss this way - see my post on the SI board. But STXN is a very different story... I'm very bullish over STXN for the long-term.

I'll be interested to see what information comes out at earnings, and what the share price reaction is to this information. While I am not expecting any sort of blockbuster news, I am hoping to see more evidence of a trend toward more orders and sales of Eclipse. With such evidence, I would expect the share price to start a post-election growth trend... particularly if some of the socio-economic concerns (for terrorism/war and energy prices) finally start to abate. A Santa Claus rally and/or the January effect should be good to us this year.
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