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Technology Stocks : All About Sun Microsystems

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To: JDN who wrote (15552)	4/19/1999 12:53:00 PM
From: Alok Sinha	Read Replies (2) of 64865

Dear JDN, I bought another 1000 this morning for 51 and change to build back my position that I sold recently. The average price for me during the last three days works out to around 53+. Wasn't too concerned about bottom fishing since I was able to get out at good prices (1/2 at 125 pre split and 1/2 at 140+; I guess after taxes differnece works out to 8-9 points). While these dips may constitute buying opportunities, I think the performance of large cap techs relative to the broader market should be cause for concern. The encouraging thing is that Intel appears to have bottomed out. The magnitude of the correction in SUN's price (app. 30% from the high just 10 trading days ago) would indicate that the price should stabilize for the near term (something I would like to believe, but am not very sure of). Any move up will be encounter selling pressure from those who got in the 60s and 70s for a quick buck, and wre unable to bail out - so the move back to 60s may be long and not so easy. I am considering buying some protective puts (just in case the bottom falls out - further). Regards Alok

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