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Technology Stocks : Stratex Networks, Inc. (STXN) -- Ignore unavailable to you. Want to Upgrade?

To: Shankar Kumar who wrote (1084)	9/15/2000 2:01:10 PM
From: Richard Knox	Respond to of 1762

Opportunity or Trap? That seems to be the question today. If I hadn't been burned averaging down on STXN over the past few months, I'd probably be loading the boat with Dec 20 calls right now. Alas, the NAZ slump, ugly STXN chart, and high volume on the decline are keeping me on the sidelines. I'm on vacation without contact next week, and if we hold the 18-19 range, I'll think about it then. Hopefully I'll have missed the boat and we'll be out of the teens forever!

To: Shankar Kumar who wrote (1084)	9/15/2000 3:29:00 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 1762

Perplexing... yes. Here's my view... I've found no solid explanation for the losses these past 2 days. The whole market seems to be off right now... this is only partly reflected in the usual indices, but it seems to be fully reflected in certain stocks - like STXN. While todays drop might be due in part to margin calls on retail investors, I think the overall impetus for the drop has come from some large funds selling some big blocks and I think those sales are due more to generic 'economic environment' issues than to anything company-specific. The selloff we've seen is way too much overdone, presenting a lovely buying opportunity (if you have the cash). Right now I'm looking at some recovery off the days low of $17+1/4 as we trade around $19+3/4. I recently added to my position at $23 and I still think that was a bargain price. Here's the latest from Briefing.Com on the market action: ===== Updated: 15-Sep-00 15:00 ET Dow -100, Nasdaq -82, S&P -13.71: [BRIEFING.COM] The indices are attempting to recover from the recent downside extension related to hawkish Fed comments... Positions have reversed slightly as the Dow is now under performing... The underlying theme today has been anguish about earnings in the wake of the disappointment from Oracle (ORCL -4 13/16), -- earnings stronger but revenue stream a concern-- and the warnings from Maytag (MYG -2 1/8), Anadigics (ANAD -5 1/2) and PSINet (PSIX -2 1/4)... Breadth statistics have remained firmly negative throughout amid strong market breadth (inflated by triple witching). ===== In short, I think this is all a bunch of market tom-foolery that has nothing to do with STXN fundementals. Anyone who follows STXN closely knows that we have some truely top-notch fundementals like + no debt, + broad product line, + broad customer base, + overwhelming demand, + profitability, + great management, + new products soon to be announced. As such, this looks to me like a great time to buy... if only I had some more money. Rob