PMC-Sierra (PMCS) Message Board

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Technology Stocks : PMC-Sierra (PMCS)

PMCS 11.65

0.0%

Jan 25 4:00 PM EST

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To: Jeff Call who wrote (1953)	7/17/1998 1:47:00 PM
From: Trader Dave	Read Replies (1) of 3818

This is classic momentum bailing. apparently, when a few institutions heard the phrase "Increased R&D spending is driving us to cut our..... The accounts literally hung up before the call was finished. There are several funds in PMCS that have rules when estimates are cut they must sell the entire position immediately. It doesn't matter that the increased spending will help the company to sustain 40% plus growth beyond 1999. Holding my nose and buying more.... But still leaving a little room in case there's more puking... TD

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