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Technology Stocks : Applied Magnetics Corp

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To: 777 Captain who wrote (11711)	4/7/1998 10:39:00 PM
From: Greg Jung	of 12298

Captain if you're long at 11 why average down? I would wait 'til it hit 6 (on some wild day, of course) and triple down. Otherwise you're talking about "accumulation" and for that purpose one storage stock is as good as any other. Actually some are better, but nobody is going to perform until the market recovers (the dd market). Now there are some much better prospects in the group heading back to their low values and probably lower. I was tempted by Adaptec if it had withstood the test today. But it broke below 20 where it was basing. Wherever it gets to, it ought to recover back to 20 soon enough. And eventually, because its a fine company (well, a victorious company anyway) it should someday fill the gap it left from 40 when it was discovered they were related to WDC, QNTM, etc. I haven't looked at the others lately but don't buy in the downdraft, these "supports" of stock price weren't built buy engineers, but by fortune tellers! Greg

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