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Technology Stocks : GSCN - General Scanning
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To: Thomas C. Donald who wrote (117)5/28/1998 7:10:00 PM
From: Lee Lichterman III  Read Replies (1) of 167
 
Nothing in Asia has REALLY changed but the markets perception has. A sector rotation started in late April with software and services and has been working its way around. It is now using the excuse of Asia. Many were fooling themselves into thinking all would be well by this quarter. When all the banks started the second round of failure, The Korean market fell to the low 300s, Indonesia falling apart etc, they finally woke up and saw that all would not be well in July like they thought. Allot of this is a white elephant but GSCN has the unfortunate luck of being lumped in with the semi equip companies since they do have some business there. Unfortunately I owned it in November when this same thing happened despite excellent earning releases and good growth. Until the market changes its attention to interest rates again, GSCN is seen as oversold and realized to have more than just semi equip income, or posts a couple more quarters of good earnings, it will probably trade sideways in this range for a while. Note the PC makers taking a hit also for this same reason. There was an article posted on Yahoo finance talking about the drop due to perception of PC makers having too much exposure despite excellent earnings so far.

Depending on your time frame, you can load up while this is down for an excellent long term gain (100 percent plus IMO) or sit on the sidelines as I am and try to make short term money somewhere else till the clouds start to part and pay a little more to get in. Or hope the market gets smart but I have been waiting a long time. LOL

Good Luck and go GSCN
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