I agree, the range hasn't been established; most potential buyers are like you: watching, and doing nothing. Any opinions about where the bottom is, are just purely guesses. Waiting until the stock bounces a couple of times on volume somewhere, is a safer strategy than mine. I'm going to be buying more, every time the stock drops another 20-30%. Some of my buys will be near the absolute bottom. And, when these LEAPs get near expiration (Jan 2001), all my buys will look good. I hope.
In my opinion, the bottom in the stock price, (barring recession, rising rates, or war), will happen between now and July 1999. The market for enterprise software will pick up once Jan. 1, 2000, is safely passed, and investors will anticipate this by about 6 months. If I'm wrong, I may have to wait till sometime in 2000 before the stock turns. In my opinion, the turn will be very fast. One day the stock will be in the teens or twenties, and the next it'll be setting new all-time highs. |
