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Technology Stocks : Harmonic Lightwaves (HLIT)
HLIT 9.560+0.2%Nov 28 9:30 AM EST
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To: Hiram Walker who wrote (2462)8/25/1998 2:09:00 PM
From: space cadet  Read Replies (2) of 4134
 
Tim, fine companies are having all sorts of problems these days, so I will still consider unph as a possible short. I can't see it moving up much from here in the next couple of months and it may go down. I agree with you that shorting the floorless convertible stocks is a no-brainer. However the problem is finding them before they collapse. The ones you mentioned have already collapsed so I think it's too late for them. Have any convertibles in mind that haven't already collapsed? Incidentally looks like yesterday was the only brief chance to get in under 10 bucks. According to yhoo it opened up around 10 3/8 and has gone up from there. I don't know why it says the intraday range is 9 5/8- 10 15/16, that's not what its own intraday chart shows. I need to find a site that alerts me when stocks have reached a certain level, perhaps by beeping or something.
What do you or anyone else expect for this quarter's earnings? I just read their quarterly report and it says
" The Company expects gross
margins to continue to be below 1997 levels in the next several quarters due to new product introductions, continuing softness
in certain international markets and pricing pressures in some markets. "

That's not good news. Wall Street can live with horrendous earnings as long as next quarter's earnings picture looks bright. I think hlit may be at least a half year away from a turnaround. Does that sound right?
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