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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Mark Oliver who wrote (8113)	2/24/2000 3:55:00 PM
From: John Madarasz	Read Replies (1) \| Respond to of 10081

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To: Mark Oliver who wrote (8113)	2/25/2000 8:12:00 PM
From: dgurgel	Read Replies (2) \| Respond to of 10081

OT: A Tough Market The market seems really tough right now. After good fortune with technology funds USAUX and USSCX over the last six months, I reduced my total market exposure by 35% today, thinking that the technology bubble might really break (down 25% or so). Certainly the divergence between the DOW and NASDAQ has to be seen as a warning. As for GMGC, I am staying long (but now at only 40% of my original dollar investment) until at least the March 8 conference call, thinking that the price is sustainable at $5 - $9 even if there no real news in the CC. The story a year from now could be as follows. GMGC went from being a technology development company in 1991 - 1997 to being a service company in 1998, when the well-integrated and impressive Portico product was introduced. Realizing the necessity for a web orientation, GMGC changed the business plan (but not the technology plan) to move to the free MyTalk product by early 1999. Financially strained, GMGC reduced development efforts after mid 1998. When caught in the sudden surge of market interest in voice access in 1999, GMGC had insufficient resources to keep up with the flood of new kids on the block. Newer products, going beyond mailbox voice access to more general voice browsing of the web, soon stole the market GMGC had acquired. That story fits the view of GMGC gained by an almost daily inspection of the GMGC web site.