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Technology Stocks : American Power Conversion
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To: Joseph Francis Torti who wrote (909)2/20/1997 4:59:00 PM
From: Dean Wolf   of 2574
 
Joey, I'm gonna put a flyer in at 19 7/8 and see what happens. I don't see it taking off any time soon. But, I agree that there isn't much downside risk here. The company says it will grow earnings at 20-25% (most people agree that this is conservative) and the PE is currently at 21. Great product in a growing market with huge growth potential overseas (and at home). Very little competition.

Don't feel too bad about being wrong for buying in at 28. It happens to the best of us. Perhaps you've heard of Sal Habash. He writes a newsletter for SI. Lots of people follow his advice(apparently). See his post below from the Cascade Communications thread dated Jan 22nd. We all know what's happened to CSCC (closed today at 28 7/8). I don't mean to pick on Sal, or anyone else who's been burned by the market. I'm just pointing out that it's an inexact science and nobody, I repeat nobody, knows for sure what the price of a stock is going to do.

>>Hi guys. I got back into CSCC today!!! Feels good, kinda like when I go back home during school breaks.

I got it at an average of 63 3/4....Above what I wanted to pay, but I was in class while the stock was lower. Doh!

I plan to hold the stock through the earnings report, which I hope will be bullish for CSCC in the intermediate term.

Sal Habash<<
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