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Technology Stocks : Network Appliance -- Ignore unavailable to you. Want to Upgrade?

To: jjkirk who wrote (2676)	3/15/2000 4:45:00 AM
From: jjkirk	Respond to of 10934

It was a nice ride...I for one am moving this tin cup full of coins to other venues...perhaps to sacrifice to the margin goddess at Schwab....jj Just now cogitated a little on the way home from work (tax season for accountants, you know)...Hmmm...how did the rest of the tech/bio market fare?...Hmmm...just took a peek at WallstreetView.com and saw that a lot of good guys got sucked down by the MMs supposedly based on the gene tech sharing announcement by the philanderer-in-chief and Tony Blair. www2.barchart.com Also, I noticed that NTAP was up 7 15/16 to 204 in afterhours trading at Schwab...Hmmm...Might I have been hasty to think I should withdraw my pittance from the market? Perhaps I will stick around for awhile...jj

To: jjkirk who wrote (2676)	3/15/2000 9:18:00 AM
From: Lynn	Read Replies (3) \| Respond to of 10934

Dear jjkirk: With all due respect, Cirrus's posting of ML information he found over on the Yahoo! message board combined for the miserable market in general yesterday are the reasons NTAP got wacked. To repeat the section on NTAP in, "TECHNOLOGY:ML Tech Bits & Bytes 3/14 PM," this time copied directly from ML's site: Network Appliance (NTAP, $197 1/16, C-1-1-9) Stock Weak, Reiterate Buy (Steve Milunovich 212-449-2047/William Crawford 212 449 5417) NTAP shares are weak today on what we believe is a misinterpretaion of comments by NTAP?s CEO who is on the road in Asia. During the CEO?s presentation he referenced round numbers of $500 mill for revenue in FY00 which he expects to double to $1 bn in FY01. We believe investors mistook this as the CEO lowering the company?s forecast for revenue for FY00. We are currently estimating revenue of $570 mill in FY00 (4qe $171 mill). We spoke with company and it confirmed it is not changing its outlook for revenue. We are estimating revenue of $922 mill in FY01 and we believe the CEO?s comments could indicate the company is bullish for next year?s outlook Additionally, NTAP shares typically trade down when Inktomi (INKT, $206 1/8, D-2-1-9) is strong which may be contributing to today?s weakness. We believe the environment for NTAP has never been stronger. We reiterate our Buy rating on NTAP and view the weakness as a particularly good buying opportunity. [end of ML] Reading things into your initial posting to this thread, it sounds to me as if you are a momentum player rather than an investor who takes a position in a stock intending to hold it for the long term, which for me, at least, means (hopefully) years and years and years. When NTAP dropped yesterday, it was a bitter sweet day for me: Sweet, in that I have been kicking myself for not moving all my NTAP shares to my Roth last year so see today or tomorrow as an opportunity to do so [crossing my fingers NTAP does _not_ bounce back today--but the spread between yesterday's high and low made NTAP's conversion price higher than I hope it will be today]. Bitter in that I remain in a self imposed moratorium from buying shares of anything in my regular accounts until after my taxes are paid April 15. Even if I would like some shares in one of my accounts that have none, I will not buy any, even at bargain prices, if it puts me in a position where I risk getting on margin when its time to pay Uncle Sam taxes due for '99 or the first quarterly payment for '00. The thought of selling any NTAP never crossed my mind even though I hold a ***LOT*** more shares than you do. Good luck. Lynn P.S. After April 15, I am going to look for the company that dominates the smelling salts business. My taxes might be bad this year but next year? Maybe smelling salts are not enough. Better look into pacemakers, too.