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Technology Stocks : QUANTUM -- Ignore unavailable to you. Want to Upgrade?

To: Sorin A. David who wrote (4712)	11/10/1997 4:24:00 PM
From: James Stitt	Read Replies (1) \| Respond to of 9124

Loss of Confidence. After the recent panic, I think that many people have lost interest in "another hard drive maker", which despite the fact that QNTM does so much more, is the perception the public sees. Similarly, what I see on this bbs is the continual assurance of one another by news, or products, when in reality, the stock price is only a function of what people are willing to pay for it, not what it's earings are, or whether they make the best gizmo's in the free world. Concerning QNTM, it isn't comforting that the stock had allready lost n% of its price before everyone starting panicing a few weeks ago. I am not saying that there is no link between price and earnings, but really, it often takes a while for the price to catch up, simply because it takes OPINION a while to catch up. Right now, go out and ask people in the business whether they want to own some hard drive company which hasn't managed to sustain ANY level above the panic low and they will probably say, no way! There is no confidence that the stock won't open -5 points... The situation with the price development is tenuous, and if you subscribe to technical analyis, it is clear that there is a Head and Shoulders formed w/ neckline at ~30 with a minimum price projection of about 17. I am not the greatest fan of tech. analysis, as it seems to be more of an "I told you so " method, however, the chart is a bit disturbing... Finally, to those who are wondering, I am long qntm, and like all who are, I am very biased in what I report here, however, I feel it is time for a reality check for those of us caught with our pants down. Jim Stitt