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Technology Stocks : All About Sun Microsystems
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To: Qiang Lin who wrote (5549)11/13/1997 12:51:00 PM
From: uu  Read Replies (1) of 64865
 
Regardless of how great Sun as a technology leader is, and regardless of how low the valuations are at this time, the South East Asian situation has created a truly impressive fear among investors (including some of the big boys). This situation, as idiotic as it is, has caused a lot of sellings in addition to attract the real bigger boysto come in and start the game of short-cover-buy-short stocks (in my opinion). The current situation with high techs (and especially with SUNW) is no longer based on fundamentals but rather a game of playing stocks!

Despite the fact that SUNW at $31 (or for that matter at $50) is a steal of the century, I believe the game these big boys are playing with each other is too dangerous for small players like us to get involve at this time. Yesterday's 12+ million shares traded was not a child's game! It was serious and caused the stock to drop to the level it is now. And most were huge blocks traded. These big boys do not easily sell like that at the bottom if they did not think they can buy it back at much much cheaper prices. Therefore as much as even I am tempted to buy I would wait till at least thanksgiving (the day before thanksgiving) and to see how much lower (if any at all) SUNW can go before these big boys are done with their games. I have up to my neck with SUNW shares and would love to have even more. But I will wait a bit before committing new money.

Just my humble opinion, as always.

Regards,

Addi Jamshidi
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