To: Pancho Villa who wrote (11236 ) 12/2/1997 10:48:00 PM From: James Choi Read Replies (1) | Respond to of 45548
<<Yes I was aware of the street.com piece and others but since I did not hear the official voice of the company and ousiders (and even insiders) sometimes cannot tell what is really going, I did not give it as much importance.>> I don't understand these people complaining about not having any official words from the company. There was one today, before the actual earning report as a way of informing the investors. As for the people acting irrationally to old news, 1. You buy stock based on how people will react to the news, earnings, etc. because it is people who move the price. 2. Just from reading this tread, this doesn't seem like old news at all. So many of the people on this forum were so optimistic they seem to be in state of denial at the moment. This pattern, including yesterday's run up, was almost identical to the story of disk drive makers. When the stock ran up yesterday, I smelled the familiar scent that burned me a few weeks back on WDC. So, I shorted the hell out of it in the afternoon. I would like to thank Craig Crawford and James Cramer for pointing me to the right direction. Ever since I wiped out my gains in WDC, I have been searching for the next one in the line of margin squeeze and I zeroed in 3COM. As I was searching more into it, the price kept on going up. When it really shot up yesterday, it was too good to resist. The people's response before this earning release, and all these denials even talk of buying more is almost identical to the discussion that went on in WDC thread around the time of that earning warning blow. Fortunately I had enough courage to abandon the ship thus limiting my loss. There was another warning on WDC (two warnings in one quarter) today. If you are long term, you should stay with the stock. As you all know, in the long term, we all die. James Choi