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Technology Stocks : PRI Automation up 30%
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To: Jim Tao who wrote (6)4/21/1996 11:45:00 PM
From: Asymmetric   of 193
 
Bought in at $21.50, so I'm already happy......................................................
Two things I can add. I looked up past issues of Investor's Business Daily and noted that prior to January, stock was held by 36 institutions, then during tech sell-off around January the number listed dropped to 10, and within the last few weeks, the number is now listed at 41. So there's been some slow accumulation at the bottom.
The other(and my apologies upfront) is that I heard an analyst who follows tech stocks on a tv interview/financial program (not CNBC) say he felt PRI automation would make their numbers. It was just a brief mention along with his assessment of several other tech companies. Sorry, but I didn't catch his name.
I bought this one pretty big time.
I figured there was little risk as there was a definite bottom/support at the $19 level, so loss was limited to 10%.
The whole sector is beat up/oversold so there's really nowhere to go but up.
Industry trends favor this company for the next several years, as well as immediately.
My research shows they have excellent management and excellent products.
They have a small market cap of about $150 million, with a float of 5.5 million shares.
They are selling at a lower PE than their growth rate. Hey that cant' be too bad!!!
So in combination with all of above my feelings are that when they make their move they could jump up in price pretty fast. A +3 point move this week has already translated to 14% gain in one week.

Good luck on you investing. Peter
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