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Technology Stocks : WDC/Sandisk Corporation
WDC 181.08+3.5%Dec 19 9:30 AM EST
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To: Ausdauer who wrote (4308)1/14/1999 5:47:00 PM
From: ED PLOPA  Read Replies (1) of 60323
 
I began my position in SNDK after the first 8 point drop after a great earnings report followed by a dose of very cold water from Eli. The fact be known, that he wasn't far from wrong and the company and it's stock price eventually proved him out.

Now the stock has recouped and has made some of us that averaged down some money. I now believe that we are now in a potentially greed area similar to days at 40. Many should have taken profits then but succumbed to irrational exuberance and came to believe that trees grew to the sky.

Presently Wheat First estimates they'll make .70 in FY99. So stock is currently trading at 33 times next year's earnings. I'm still holding for fear of missing some "irrational exuberance" while at the same time fearful that such exuberance will become very intoxicating.

Ed Plopa
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