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Technology Stocks : Open Text

OTEX 37.87

-0.7%

Oct 30 3:59 PM EDT

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To: P Wright who wrote (1116)	4/21/1999 8:46:00 PM
From: Joe Kowalski	Read Replies (1) of 1195

Well, OTEX more than beat the earnings estimates of .17 with a fully diluted EPS of .20. This is great progress. I believe this stock will be between $50 and $60 before the end of the year. Of course there will be the usual OTEX pullbacks, maybe as early as next week, but the long term trend is solidly up. OTEX appears to be getting more institutional attention, so the down spikes may be mitigated as they accumulate on the dips. Shorting this one after earnings has been a successful strategy in the past. I wouldn't be doing that this time...could be one of those "went to the well once too often" stories. Regards to all longs, Joe

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