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Technology Stocks : Read-Rite

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To: CPAMarty who wrote (3692)	7/15/1998 8:43:00 PM
From: Stitch	Read Replies (1) of 5058

Marty, The RDRT release concerning GMR is a PR piece timed to inject some good news at a time when there is a dearth of the same. That release is basically a mid term report card and reflects lab results. Don't misunderstand, it is important. But as we all know, that which is achieved in the lab doesn't neccessarily insure a succesful product. RDRT still has the near and mid term problems as well documented here and, then, looming right behind it without so much as a "hitch in their git-along", they must execute on GMR. I still think RDRT will see a small pop today (your tomorrow) based on a perception of improved cost controls and that it will be sustained for a day or two by a mini cover by retail investors. It will then settle back down as even retail investors begin to digest their recent statements. Of course I may be wrong and everyone will read Todd's capable analysis and bypass the pop all together.<G> RDRT will see sub $7 again IMO before any sustainable recovery occurs. This is a l-o-n-g and s-l-o-w cycle IMO and there will be plenty of time for long term investors to place their bets. Best, Stitch

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