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Technology Stocks : Vitesse Semiconductor
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To: OldAIMGuy who wrote (2504)4/22/1999 5:48:00 PM
From: Robert Schwartz  Read Replies (2) of 4710
 
Tom - Great timing on your trades! In late September 1998, when all of the "experts" were preaching doom and gloom from the Asian crisis, VTSS pulled back to $17!!! On 10/2, I bought at $19 1/2 and sold on 1/13 at $45 3/8!!! Anytime VTSS pulls back 20%, it appears to be a great buying opportunity.

One caution in regards to the pattern of VTSS falling after announcing earnings $.01 ahead of expectations....I made my prediction that evening after seeing the earnings (although before the market opened the next day). By being out of the stock, I risked VTSS reporting $.02 or more ahead of estimates. Had this happened, I doubt we would have seen the drop to low 40's! I also risked a split announcement that could have sent shares sky-rocketing (for reasons unbeknownst to me!!). As I previously stated, I felt it was a good gamble since VTSS almost always reports $.01 ahead of expectations. RS.
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