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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: DDV who wrote (4309)	7/19/2001 5:49:36 PM
From: zx	Respond to of 6873

just went short gnss, phtn, mscc. sold my longs except options.

To: DDV who wrote (4309)	7/21/2001 11:09:30 PM
From: Michail Shadkin	Respond to of 6873

DDV - Re: GNSS I am not crazy about this short play at all. Here is want they had to say during earnings last thursday: "San Jose, Calif, July 19 (Reuters) - Flat-panel monitor maker Genesis Microchip Inc. (NasdaqNM:GNSS - news) said first-quarter earnings remained stable in spite of a 66 percent revenue increase, due to higher costs. Profits for the quarter ended June 30 rose to $1.59 million from $1.56 million. Earnings per share were flat at 8 cents. Revenues more than doubled to $21.3 million from last year but the cost of revenues nearly tripled. Gross margins, therefore, decreased to 46 percent from 66 percent. For the second quarter the company expects revenue growth of 16 percent to 20 percent and gross margins to remain stable. It plans to increase operating expenses by 7 percent to $8.8 million to $9 million for the fiscal year." Forwad PE is 46 (as they are expected to earn +.73 next year) They are expensive but not outrageous by any means. There are problems with shorting stocks that are guiding higher during recessionary times. They tend to be the first ones out of the gate when economy starts turning around. I think there are much easier fish to fry than GNSS. Michail