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Technology Stocks : LSI Corporation

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To: John Lengyel who wrote (9421)	2/3/1998 10:08:00 PM
From: shane forbes	Read Replies (1) of 25814

John: Though I may agree with your MU I still like LSI and ALTR. ALTR is going to be a 2+ billion dollar company in 3 years from now. LSI has simply awesome IP and a spectacular portfolio of future big hits. Further I think "A year from now these stocks won't be any higher than they are right now" is utter nonsense. This point especially just makes no sense to me at all! We are still much closer to the bottom than the top of these stocks over the next 12 months. That's a guarantee. Further on "Can't find a single stock I'd like to buy" just means you haven't looked hard enough. It takes some looking but I've found plenty of tech and non-tech stocks that are well worth the risks involved. If the objective of trading is to make money the last 2 days have proven that you can still make money. But even if your objective is investment for the long term (3-4 years) these prices are ridiculously low. About Prudential they have always been an LSI supporter. At one time I know they owned a chunk of LSI. I don't believe their ratings any more than I believe any other analyst's ratings. In 1996 they had so many buys it looked embarrassing. However, if you're skeptical of the analysts you're talking about then maybe you should be buying. After all the vast majority of analysts have LSI at a hold (guessing 2 buys, 2 outperforms and 14 holds as of a week or so ago). So if you take the analysts-are-BS view then you would view their HOLD stance as a buying indicator. There is exuberance right now definitely but 7-9 weeks ago sentiment was no less extreme in a very negative way. The stocks overreacted in their decreases then and though the last few days the increases may have looked extreme the stocks were pummelled so badly then that using those low prices as a base and claiming that just because they are now up so-and-so % is very poor thinking. This does not mean that the stocks will not go down. As sure as the sun will rise tomorrow the stocks will go down. Tomorrow with Clinton's problem or Asia or Iraq or god-knows-what these prices can turn. The rises and falls in this sector are exaggerated. But that goes with the territory. My sense has always been that with tech investing/trading "if you can't take the heat get out of the water." I could argue that the number of days these stocks trade at their "fair value" can be counted on two hands and two feet. And even though not at all meaningless, fundamental analysis is only part of the story here. The point is even though they're risky these stocks can make you money if you know what you're doing. And best of all I'm absolutely thrilled the shorts are wetting their pants right now. Always good for a laugh.

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