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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: marvin litman who wrote (5689)	11/18/1997 1:24:00 AM
From: uu	Respond to of 64865

Marvin: You state: > I had that stock for a while (SPNSF). It never went any where > in a couple of years. It's a little higher now....... Actually this stock can be used as a classic example of how patience can pay off big time! I bought this stock back in 94 at around $14.5 (the stock had come down from its high of $28 at the time). Then it started to go down and as it went down I averaged down all the way to $3! Then it went to 50 cents/shr! This all took place in a time frame of 5 months! Of course I did not buy more at 50 cents because of the risks, and yet did not sell either because I strongly believed (and still do believe) in the management! So my average share price came up to be at around $5.7/shr. The stock then came back up and traded between $2-$3 for 3 years till about 5 months ago when it started to take off, and went all the way to $10.75 (or about 350% from its high a few months earlier)! I did not sell (because I think the stock can be worth at least $15-$16/shr). Eventhough it has come down to around $7-$8/shr due to the recent market pull back I think it still has a way to go. The company, in my opinion only, is in a tremendous turn around mode. Anyway, the point is this is a classic example where patience has paid off quite nicely (and believe me the 3 years it was trading between $2-$3 was very agonizing especially when practically everything else was going up!), Nevertheless the return has been about 60% (so far) and will be holding till $15-$16 range (I figure the agony this stock put me through for over 3 years is worth at least 300% return. Dont know whether I will see the $15-$16 soon, but I am sure it will get there). Regards, Addi Jamshidi