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Technology Stocks : 3Com Corporation (COMS)
COMS 0.001600.0%Nov 26 9:30 AM EST
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To: Doughboy who wrote (30768)5/11/1999 1:00:00 PM
From: Harold S. Kirby  Read Replies (2) of 45548
 
DoughHboy: As one well known individual(WB) just recently told his shareholders...there are not many "bargains" in the mkt right now and he is sitting on a considerable amt of cash (billions). He admits that it is "unusual" for him to be in this position. Given this...the mkt will begin its "value" adjustment(s) relative to these companies with high P/E's! Historically...value investors have fared much better than speculative investors and I can attest to that. I considered, and looked at the earnings period and expected cisco to experience a slight percentage reaction but nothing substantial if they met the street's numbers. I agree with you if my numbers indicated a 5-7pt bounce...but my numbers are not reflecting such. Consequently...I guess you could say, "I rolled the dice". At this point...and I am not trying to be "cocky"...I am money ahead with my short and yes...I am keeping a keen eye on the volumn and other factors to protect my present profits. With these abnormally high valuations in the mkt...one of these days the "humpty dumpies" are going to fall off that wall and it is going to be very messy and needless to say..."all the kings men will not be able to put them back together again...not as they were"! I am not adverse to shorting any stock that I own...and that includes 3com...I can sit on it forever...much different than borrowing the stock. In this case I am borrowing it from myself.

Good luck,
HKirby
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