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Technology Stocks : PGEX Pacific Gateway Exchange,INC. -- Ignore unavailable to you. Want to Upgrade?

To: James Hutton who wrote (65)	8/12/1999 12:49:00 AM
From: David Wise	Read Replies (1) \| Respond to of 95

Today looked like the typical bottom point where all stops are ripped out, weak hands give up, and the stock begins to reposition itself. The swift drop below 19 and back to 20 looked like a rip-off artist's work. I almost felt like a criminal myself buying it under 20. At the same time the TAs who saw it dip below its 52 week low made their predictable exit. It's all in the script. Now PGEX should be in stronger hands and will begin a rather swift recovery to the 30's, followed by greater increases once they show that the estimates are justified. This, of course, can be delayed if the market returns to fear and telecom stocks in general fall out of favor. But would anyone argue that demand for telecom services is not growing exponentially? Data, voice and video demand is exploding, and telecoms can't grow fast enough. That's why PGEX has invested so much. The amazing thing is that they've remained profitable through the expansion! But now the investments seem to be at a point where revenue will grow faster and cost growth will slow down. Anywhere near next years estimates will double the stock price. Good luck!