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Technology Stocks : Adaptec (ADPT)
ADPT 17.33-0.2%Nov 3 3:59 PM EST
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To: Mark who wrote (1279)3/21/1998 1:44:00 PM
From: MetalTrader  Read Replies (1) of 5944
 
After watching this thread for a couple weeks and reading back through the bloodbath, I'm in.

If the disagreement is whether to expect 18 or 22 as the bottom I'll buy again in the next week or so either nearer the bottom or happily higher.

I am not a techie but reviewing the balance sheet and the sec filings it sounds like a pretty sound group running the show. I like a company that takes minor write offs. There is always something to write off and management that doesn't wait for the crushing weight of unavoidability to swallow hard and put bad news behind them gets a vote from me.

Another factor is the legal aspect. In the class action suits I have been involved in (in the courtroom, not at the end of a mailing list)
the attorneys tend to slither in near the bottom of the business cycle. So much better for proving damages. (someday someone should do a study of class action suits as a leading indicator)

Although the principal of class action suits is meritorious, I tend to like to buy around these loathesome creatures. Having been deposed a few times in CL Act suits I would like to see guilty punished and the attorneys of frivolous actions ordered to donate an organ each. Based on the number of lawyers in the rooms I've been in, there would be a donor glut quickly develop. - (heart donations excepted)

The purchase of Symbios looks reasonable particularly since it was bought from a seller under duress.

My inclination tells me that both the S&P downgrade and window dressing by funds are reasons that keep major buyers out of the market temporarily.

Thanks for the entertaining thread.

So put me in at 19 since I know I'm not smart enough to buy at the bottom. Now I have to decide whether I want my next buy to be at 19 or 25.

MT
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