BAY Ntwks (under House) Message Board

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Technology Stocks : BAY Ntwks (under House)

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To: RFF who wrote (4891)	3/19/1998 11:39:00 AM
From: rupert1	Read Replies (1) of 6980

RFF: I never bought Mang Cheng's analysis that yesterday was a classic "short covering" - the WBendus posting a few days ago and the discussion then showed that of all the networkers BAY had the lowest percentage of outstanding shares borrowed by shorts. I think Mang would like it to go to $24 or below so that he can get in at the price he sold it more than a year ago: I'm not saying he won't get it, anything can happen, but rational analysis of known facts, would have BAY repairing the damage of the last two weeks inching towards a more stable valuation probably in the 27-30 range; and at some point, probably after earnings, moving in fits and starts towards $40. How much of yesterday and todays rally was caused by analysts comments especially the important upgrade from DLJ, who, love em or hate em, was more right than most about BAY's ramp up problems. If the rally is mostly motivated by upgrades, the normal reaction would be a modest correction after a couple of days. Victor

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