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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Pancho Villa who wrote (7219)11/19/1997 9:03:00 AM
From: Dale Baker  Read Replies (1) of 9285
 
I was planning to short it while I stay long QNTM, the only DD stock which hasn't previewed any bad quarters, thanks probably to its DLT business. SEG is currently trading down 3 in pre-open action. With an off day for the Dow and the general DD carnage, I'm looking for high teens though I haven't researched the company. After two quarters this FY SEG will probably have .10 earnings before an enormous charge for restructuring. WDC is doing better and it fell much farther percentagewise.

Just can't see the upside in it for now. Good luck long.

Just in from Briefing: Seagate Technology (SEG) 24 5/16 closed: --UPDATE-- Goldman Sachs removes disk-drive maker from its "recommended list" and cuts fiscal 1998 and 1999 earnings estimates following latest earnings warning.....
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