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Technology Stocks : Adaptec (ADPT)

ADPT 15.58

-11.5%

3:59 PM EST

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To: ChiTao who wrote (1410)	3/26/1998 8:37:00 PM
From: Zeev Hed	Read Replies (1) of 5944

ChiTao, you put your finger on it, they went for five years without a glitch. The truth is that they had crises everyday, except you and I did not know of these since these were well attended to. The slow down in technology is a real one, and once again they are doing absolutely the right thing, they have collected a bundle af money during the good times, and now they pick up on the cheap with their cash new technologies and productive capacity. Sure management sold shares in the period of June to December last year, they saw the writing on the wall (and all they had to do is read SI were many have warned of the collapse of SEA and the negative impact it will have on high tech). Their sales had probably nothing to do with company specific events (the sales are smoothly distributed over the whole period) but with a less than sanguine view of 1998 in general. I am not sure if we hit bottom today (probably not) but this company shares are becoming more and more attractive the lower they go. Maybe one of these days, I will collect enough "guts" and finally jump on board. Today is not the day, yet. Zeev

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