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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: High-Tech East who wrote (26513)	1/20/2000 4:35:00 PM
From: JDN	Read Replies (2) \| Respond to of 64865

to all: conference call is starting right NOW. JDN

To: High-Tech East who wrote (26513)	1/22/2000 12:48:00 PM
From: High-Tech East	Read Replies (2) \| Respond to of 64865

not that I might not sell all my shares tomorrow ... again, "tech" stocks are way, way, way overdue to correct 15-30% ... post #26513 of January 20, 2000 Just to clear the air ... ... as some of you may know, I closed my regular consulting business at the end of 1999 to concentrate on investing for my wife and I on a full-time basis. ... some would call that day trading (as I did myself initially), but I will not really be a day trader ... my philosophy is to own only the very best companies, and own them with big personal positions ... of course, figuring out who the best companies are is not easy ... three years of investing experience (as of May, 2000) to go along with four years of studying investing (as of August, 2000) really amounts to only a very small amount of knowledge ... ... I have been lucky and skillful since putting our limited amount of retirement money into Sun Microsystems between May and October of 1997 ... we had a small amount of money that is now quite a bit larger ... and we are pleased ... ... starting in October, 1999, I started taking more and more profits out of SUNW and putting that money to work in another company. ... on January 3, I sold all the SUNW that I had left to raise cash, and prepare for what I perceived to be a significant tech stocks correction ... lucky for me, the Nasdaq started correcting that day, so I started trading SUNW frequently, and did very well ... yesterday I sold it all again (at 85, and picked up another seven points) ... I remain convinced that the combination of macro and micro economic conditions that exist in the world today, combined with the huge gains that have taken place in tech stocks since October, 1998, makes having large positions, in even the best tech stocks, a risky proposition in the short term. If our money was not in IRAs, I don't know what I would have done ... but the sell-buy-sell-buy-sell of SUNW in 15 trading days would probably never have happened. We now have a large cash position, and a large amount invested in a local bio-tech company that I have mentioned before. Events may well prove me wrong ... maybe I will end up buying SUNW back at 100+ ... certainly, I have no less confidence in Sun Microsystems than I have had previously ... in fact, and if possible, I have more confidence in them ... my personal opinion is that they are one of the truly great companies to own for the next 10 years. I have read The Wall Street Journal and Barron's (among others) carefully since August, 1996 ... and the one thing that really stands out to me over that period is that their lead columnist, Alan Abelson, has been totally bearish on the stock market every week for the entire period ... if I heeded his advice, our assets would not be worth much more than they were then. ... my point is: who really knows what will happen? When I buy back in next time, some will be for the long term, and some will be to trade for short term income ... or maybe I will continue to trade all of it short term ... I wish you all the best and continued success. Ken Wilson Note: I am not a professional investor ... readers should not act on my personal investing actions or beliefs ... I am not selling anything, and I am not licensed or qualified to give professional advice ... I am a private investor, like most of you - sometimes I am correct, just like you.