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Pastimes : Ask Mohan about the Market
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To: DAVID BROWN who wrote (70)12/15/1996 5:14:00 PM
From: Cynic 2005   of 18056
 
David, somehow I am inclined to say that techstocks are not very good for long-term investment. Even though most of my old picks would have been tremendous long term holdings, I have this stomach churning sensation with rapidly changing fundamentals of the industry and certain companies in particular. And then we have the issue of valuations. Back in 1990 nobody argued that Intel and Microsoft are good companies. But many backed off from investing in them assuming that those rich valuations are not justified. Now, 6 or 7 years later, each of them have grown by 10-fold and continue to grow. Can we say the same thing about Citrix or Microchip Technology? I am not sure! Any way, I am deviating form the topic.
I looked at COGI and it looked like one of those CANSLIM stocks. Outstanding fundamentals! If you are already in it with a lot of room for error, I would say stick with it. But, I will not buy it at these prices. $40 or below what i will pay for that stock. If I don't get it, it's OK. Currently I like STII as a great bargain (check that thread) and I still like Cognos. Looking for Citrix to go below 40 or so to take a new position. Currently I think computer technology companies are scaring me due to rich valuations and weakening fundamentals. Since Biotechs have been so weak for about 6 months, i am focussing more in that sector. My favorite is Biogen (i own several hundred shares and several options on it.) Expecting a double for Biogen in 1997.
Regards.
-Mohan
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