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Technology Stocks : All About Sun Microsystems
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To: Kal who wrote (9390)4/30/1998 2:58:00 AM
From: uu  Read Replies (2) of 64865
 
Sun's short interest during month of April increased by about 20% to over 21 million shares (see viwes.com ). That combined with sort of a buyer's strike explain the poor performance of the stock since the earnings announcement. I am not a rocket scientist let alone a TA, but the break out of the stock since last Monday makes me believe something is up with Wall Street's perception toward SUNW! I think Wall Street's perception with regard to Sun is about to be changed once again and this time to the positive side.

I was not planning to buy any shares unless it was under $40 (at the minimum), however I may start buying a little also in the $40-$41 range. If the market correction I have been anticipating does not take place before the end of May, Sun seems to have a very good chance of testing the low $50's again.

Companies such as Borland, Symantec, Progress, etc., that are the major tools vendors seem to have given the confidence back to the investment community of Sun's widely accepted thin client/server centric technology. That combined with Oracle, and IBM's continuing strong commitment to Sun seem to have changed the perception for SUNW back to the positive side. I just hope SUNW does not run up to the high $40's before I buy all my shares back under $39-$40 (and even in the $40-$41) range. Everyone is talking about a major correction and because of that I dont think we will see any major correction for sometime yet (and if we do I think it will be very quick and sweat)!!

Regards,

Addi Jamshidi
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