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Technology Stocks : Open Text
OTEX 33.01+0.5%3:59 PM EST
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To: Michael L. Bland who wrote (154)12/30/1996 6:56:00 PM
From: White Shoes   of 1195
 
Yep, sometimes you just have to know what you have and stick with it. Although I now pay more attention to technical indicators...at some point you have to settle in and wait for the fundamentals to bear fruit. I didn't buy this as a momentum play, I bought because I feel that large revenue increases and positive earnings are just around the corner.

At the moment the market seems to be rather giddy for momentum plays both up and down. More amateurs than pros playing the past few days. I am hoping the fundamentally sound companies will get their due in time. Some of the dogs of '96 have been oversold, and amazingly people are still selling them this week. More momentum players than value players I guess.

The "wait and see money" of big institutions will come in when earnings do indeed show up. Calling that scenario correctly would have done great things for you if you had bought, for example, American Power Conversion at $10 this year. People who did had to watch it go even lower as the market 'just kept selling' because 'it was down'. When earnings came out though, the stock took off and it's now trading at $27 3/8. I am looking for a similar scenario in Open Text over the next 12 months; first revenues, then earnings, then a good long run.
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