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Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (2470)	8/20/2001 3:40:12 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 2850

Hi John: Thanks I did see the Covisant article. Agree on the repricing. My impression is the normal option issue date is October and this "re issuing" will be around the same time. If you wait till 2003 to 2005 more competition comes into play which is why I thought it made sense to pay now to lock in customers for later. From a stock entry stand point on that one day a couple of months ago the stock hit 2.99 but a lot of shares traded around 3.05. Since its just hit $3.30 I guess a break of $2.99 on a retest is not out of the question (especially if we break 1620 on the naz) but around $3.3 should be a good long term entry point. On the conference call and earnings report I got the impression (besides normal software extreme market weakness issues) managment tried to take most of the bad news last qtr (notice as bad as the sales drop was they increased deferred revenue by 50m). With flat revenue guidance $103 one would think they don't disappoint and maybe management can get back to under promising. Note I don't blame management for the appnet service revenue drop off and related revenue problems. Its easy in hind sight to throw darts (I still fall into this habbit on occasion) but when you had a company growing so fast they just didn't see it coming. Its a problem with young companies. Note FMKT had a good cc and upped revenue guidance. Why its held steady around $18. I'm sure as a knock to CMRC they mentioned good visibility many times. Now let me ask you IF you were the head of sales and YOUR options were to be set in October and you had a few contracts ready to close, would you try to hold them off till October (or at the least not announce them till after the grant date)? Many ways for management to dance around fiduciary duty to shareholders. Also @ this level I wonder if there will be any tax selling. I'm assuming most funds already dumped and if the story starts to get stronger then they will start to nibble again. I can see $8 to $12 by year end IF there is a good Oct cc or subsequent positive news. Software is still a tough sell this year to corporate IT. Ever optimistic Tim