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Technology Stocks : BAY Ntwks (under House)
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To: Beachbumm who wrote (5043)4/2/1998 1:27:00 PM
From: eric podell  Read Replies (1) of 6980
 
Beachbumm, I know that the 10 cent quarter is not the issue. I was asking it because I averaged down for the fifth time at 25 5/8 after the warning. I unfortunately never traded Bay because I bought in to the idea that Bay had turned around and if I was patient enough the stock would go to 100(Like House allegedly prepared his troops for). I'm mad at myself for not trading the quick rally to 30 thinking that finally I had some low priced shares to really boost my return. I contemplated selling some calls but decided that since the earnings and conference call preceded the expiration I would be certain to lose them as Bay vaulted back into the 30's. As you may be able to tell I'm confused and scared. I have 65,000 in this stock(a huge overweighting of my portfolio) and am down many thousands. I have held for years and wish like others that I had invested in the 800 lb gorilla rather than the 80 lb chimp. The almost complete retracement of the gains registered after the warning makes me think that once again bad news is coming. Isn't it funny how huge paper losses will blight the mind and warp the spirit. Is anyone worried that the old axiom (earning warnings are like cockroaches-there is rarely only one in the kitchen) will continue to apply to Bay. THANKS. I need to vent. Eric.
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