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Technology Stocks : Vitesse Semiconductor
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To: VoodooFL who wrote (295)11/20/1996 1:35:00 PM
From: SI-Shark   of 4710
 
All, I think this stock is overvalued. I've said a number of times that I would only consider a long term investment if the price were under $20. However, I would still like to make some money trading this stock. It seems to me that it has the volatility necessary to make it a good trading stock. If the market wants to drive this stock up than who am I to say that they are wrong.

Personally I cant understand why this new offer was so well accepted I can only imagine that VTSS did a real good job placing this issue and that some Fund must be trying to take a major position. In this type of market logic and fundamentals have no bearing on price, it just comes down to share supply and demand. Of course if I here that someone is taking a major short position in this stock then I'll be only to happy to profit by also shorting.

Currently I'm trying to decide if I should buy on the next dip with a sell target somewhere around $50.

regards
Si-Shark





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