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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: Beltropolis Boy who wrote (2719)	7/13/1999 2:40:00 PM
From: Trader Dave	Read Replies (1) \| Respond to of 4710

BD's around, but just got back from a vacation. no real surprises in the results, comfortable with VTSS as a long term hold, but I think short term (and silly concerns) about the shift in nature of business is weighing on the stock. In addition, VTSS's valuation (like other communication semiconductor companies) is priced for perfection, meaning stronger upside to earnings and revenues. I think VTSS was running up before earnings as part of the overall frenzied appreciation in the sector. This feels like a natural consolidation. We still don't have our full position in VTSS and may not for a while. I like to buy during market panic sessions and we haven't had a really good puke since last October. I'm hoping for a pre-y2k panic in the fall. TD