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Technology Stocks : BAY Ntwks (under House)
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To: Paul Fine who wrote (5224)4/11/1998 6:05:00 AM
From: rupert1  Read Replies (1) of 6980
 
Jay and Paul: Thanks for the article with the House interview. It's a bit like reading tea-leaves. If the date of the interview was very close in time to the last CC after the warning, then the import of the interview appears neutral because he said nothing more than he said then. If, however, the date of the interview was in the last week (which is probably unlikely given the quiet period) then I would be more concerned about the "waffle factor". The "waffle" certainly seems to be preparing the ground for some possible, if not probable, "slippage" of sales from the June to the September quarter. On the other hand, if the interview was recent there is no indication that the possible 10% shortfall between the 2nd and 3rd quarter revenues has been breached and this would be encouraging given the contrary opinion of the views of SV analyst.

Paul, it is better to have closed above $24 than below, especially in view of the recent pessimism. Not to put too much weight on it, I still think the manner of the recovery from $23 3/4 to $24 3/8 in the last hour before a long weekend and before earnings was positive and suggests that we have found the bottom. Given the option expiration on Friday next and the uncertainties that are sure to bedevil the market on Tue, Wed, and Thurs there may be more bearish movement; but my opinion is that any weakness in the price is a great buying opportunity. $24 3/8th is already a great buying opportunity.

We will have the facts soon.

Victor
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