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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: public_heel who wrote (91229)	7/4/2002 11:38:35 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 99280

In ADPT, $9 to $10 is where the OH resistance is and the area where intend to get out. It was bought here because it became a value stock (50% premium over book and at one time cash, cash is higher than book because they are overly leveraged here). My last exit was well above $13, so this entry at 50% or so discount "looked good" (g). If any inklings of profitability return to the sector they should do well. They have pretty good gross margins (at 50 to 55%), but I am not sure if they are "clean" accounting wise, it seems that their R&D and SG&A fluctuate wildly, and they may be using these to charge off some good will, or possibly stuff that should be charged to COGS.