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Technology Stocks : Seagate Technology
STX 237.49-1.3%4:00 PM EST
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To: Gus who wrote (4924)4/22/1998 8:19:00 PM
From: Stitch  Read Replies (3) of 7841
 
Well Gus,

I did it. I bought Seagate at 27.875. I look for resistance at 34 following a slow and possibly rocky run up over the next 10 weeks. News of Seagate's regaining ground in the high end (with a possible surprise announcement in this segment) and whispers of an imminent release of a very low end drive (sub $100) will help it along as will new found gains in head manufacturing. Next quarter's results will show gains from lower cost labor in SE Asia with the write offs behind them. I suspect by then it will become clear that disk drives will still be with us for a long time and that Seagate is positioned as well as any to be there to capitalize. In addition I think that Maxtor and Fujitsu will both show signs of being burdened by home economies. The software segment of Seagate's business is like an underpinning that adds to the pure attraction of this delightful stock that has as much appeal as a good Agatha Christy novel on a rainy afternoon. Some things that Seagate is doing which I like very much is the diet they have gone on, and the removal of home field advantage previously granted to internal suppliers that is forcing them to get competitive fast.

I look for Seagate to go into their next CC at or near the $34 level. I hope to have reason to hold partials through the call after tucking a 20% gain into the booty on the rest. But then, whiskey, tango foxtrot, do I know?.<G> BTW, have you been watching my ZIGO? What a tasty little kumquat that has become. Maybe I should say is becoming. Still holding.

Best,
Stitch
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