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Technology Stocks : Safeguard Scientifics SFE
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To: robert miller who wrote (1023)1/4/1998 7:06:00 PM
From: michael r potter  Read Replies (1) of 4467
 
Miscellaneous; Have not heard anything about next offering. Follow up from 11-21-97 post I made; Hold that cyber beer! SFE is up a point or so from then, but nothing of the explosive category. Could still happen. Tech. stocks got a bit roughed up, and that negative psychology has held most of SFE's spinoffs in check despite long bond rates going well below 6%. Considering the shellacking many Tech. stocks have taken SFE and spinoffs have held up quite well. CATP acts great. SCAI had a very positive feature in Investors Business Daily as did CATP. These low interest rates are wonderful for high growth companies (SFE spinoffs in particular] as high PE ratios are a function of growth rate, interest rates, and of course market psychology. About every year or two psychology is negative as it is now, PE ratios for high growth companies gets compressed, and a buying opportunity is made. Example: DTPI is growing way over 50% but is only selling at something like 26 times FY March 99 engs. est. When psychology swings back [and it will} it could easily trade at 50 times earnings. This could be a very good year despite what the DOW does. Best Wishes to all for a happy and prosperous new year. (Disclosure: I did buy more DTPI last week] Thanks, Mike
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