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Technology Stocks : Phoenix Technologies (PTEC)
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To: Jimbo Cobb who wrote (330)1/14/1997 8:08:00 PM
From: Fred Fahmy   of 3624
 
Mark,

I think Jules comments (as usual) are very revealing. This is a great company, but the stock is going nowhere to downward in one of the greatest tech bull runs ever. Why? Look no further than Jules comments. Management can not relate to the investment community. In the long run, earnings will will speak for themselves. But this will take more than one or two quarters of good earnings. For the short/intermediate term I have not heard a single argument here or elsewhere as to why this stock will move up. I still think that PTEC will be a great a long term play. For the near term, however, it is safe to say that PTEC is dead money. Absolutely no interest on the buy side. Look at the charts. Whenever volumes start picking up, the stock drops sharply.

Tim, gave me a great piece of advice about ten days ago. He said I should take all my PTEC money and put it into INTC. Probably some of the best advice he has ever given. Unfortunately, I'm fairly certain that he didn't follow his own advice.

I think you will notice that PTEC has its worse days when the techs stocks are having their strongest days. This certainly has been true for the last month or so. Today was yet another example. I think this trend is due to investors feeling that it is too expensive to hold PTEC when they could put their money in many other tech stocks and make more in one day than they have in a month with PTEC. Besides they can buy PTEC back later at the same price, possibly cheaper. I know these comments are going to upset some people. I have already been flamed for not following the mantra that PTEC will explode in the next six months. It took INTC years to be discovered and respected on the street. This is not going to happen to PTEC overnight.

FF
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