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Technology Stocks : Safeguard Scientifics SFE
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To: John Arnopp who wrote (2302)3/15/1999 6:02:00 PM
From: michael r potter  Read Replies (2) of 4467
 
If fundamentals are what they appear, Sanchez SCAI $20, appears to be a good buy. $.64 '99 est., and $.95 '00 est. [48% growth] at 21X '00. Stock buyback is substantial if carried out. This stock has made wide swings the past couple of years between upper teens and low 30s, meanwhile growth has been good. Technically, oversold. This is one rights offering I sold early, and have been wanting to get back into, today fit the bill. Anyone noticed that about half of the market seems to be in a neutral to bear market? So many peaked mid '98 and are not even close to those highs. Virtually all of SFE's previous rights offerings are in that category with one notable exception, Tellabs, which they acquired through the back door and have been selling in the 40s on up I believe. So far the strategy of selling the winner TLAB and recycling part of the proceeds into the "dogs" hasn't paid off, as the dogs slip and TLAB pushes higher. Other uses of the proceeds in private investments have probably been good. Thank goodness for ICG because if SFE had to trade off it's NAV stocks it would make for some unhappy reading. So far SFE has been handling normal profit taking after the big day splendidly as there are buyers waiting for any weakness to pounce. Mike
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