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Technology Stocks : Cascade Communications (CSCC)

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To: Risberg who wrote (2900)	3/15/1997 1:51:00 PM
From: Glenn D. Rudolph	of 3743

Perhaps my questions have been misinterpreted. I think CSCC will be 50% higher this fall. But my point is that holders shouldn't expect to return to the lofty days of recent past, partly due to the steepness of the selloff -- that spooks people and they won't bid it up with the optimistic fervor Risberg, I agree the lofty valuations will not return anytime soon. Actually, they should not. The stock was too high. The PE far exceeded the growth rate. Now the stock is a bit too low. That does not mean it will not go lower. I'd never make that statement<G> I am hoping history repeats itself as it always seems to do in the market. The ANALysts downgrades on most of the stocks in the networking sector are coming in very quickly as you said. Once everyone becomes bearish (and I hope that is soon), the stock should start a climb back up. Possibly 50 or 60 by years end with an optimistic approach. As long as sentiment is bullish, it is not headed north. I am starting to see some bear sentiment and that gives me hope. We need to see a few more downgrades and the networking segment in general ought to start to recover. Glenn

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