To: Raymond Duray who wrote (1076 ) 11/20/2000 5:27:50 PM From: Shaw Read Replies (1) | Respond to Raymond, firstly I don't treat all investments the same. In this case, the recent purchase was made into a managed account, that employs a buy and hold style. It was hard enough to get the manager to go with my idea. Selling a few days after buying, would have been even more disruptive, to that relationship. Also I knew when I bought, I wasn't buying at an the absolute low, but I felt it was important to initiate the long term investment, as, at the time of the investment, the conditions for the metro. optical network sector to run up, were still in place. I still think that is true, but that presently there has developed some confusion, about the strength of the optical build out in the metro area. Also by taking a position in my long term account, the proffesional that manages that account, will have a better chance of getting familiar with, and gaining confidence in the Avanex story. Again the amount I have invested is relatively small, and my entry price is not that far from where the stock is trading now. Because I have a strong level of conviction regarding the prospects of Avanex, I was anxious to inniate a long term position. The positives are, I now hold a position, in the only optical company that I know of, that can set the standard for and dominate the supply of, optical equipment for the metro optical network space. Having said all that,I will continue to baby sit this situation, until it is out of the woods. The benefit of putting my money where my mouth is, is that Avanex is no longer just a trade, but something I plan to get to know on a much deeper level. By taking the plunge it kicks that process into gear, sooner than later. Which with all that is going on, I think it is the right time to raise ones level of focus, in this area. The knowledge I gain, I can use to enhance my edge in trading the very same sector in a different account, when I have time for that type of activity. Right now though, a more long term aggressive growth approache, falls with in the time constraints I have, for particapating actively, in the market.
