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To: Dale Baker who wrote (310)	12/4/1997 10:15:00 AM
From: jgideon	Read Replies (1) \| Respond to of 118717

Dale, considering the recent market, and QNTM in particular, have you considered temporarily changing the name of this thread to "Avoiding 50% Losses in Value Tech Stocks"? As for AVID, which I mentioned the other day, I'm not going to jump in on this one, even though it has been beaten down several points since I mentioned it. Why? I looked at Zack's in the library and the 5 year growth estimates for AVID are about 25%. This provides significant downside risk should the PE drop to 25 after the loss is removed from the trailing, or the company miss earnings. Still, the next two quarter comparisons should be really easy for the company to look great on -- hence, anyone wishing to time any short term movement might have success. I just look at a PE of 25 with estimated $1.05 for this year and get only $26.25 as a short term target. The target for end of 98 becomes 25 x $1.52 = $38, which may be an interesting play if the current drop continues. In sum, to play AVID short term , you have to believe that momentum will carry it to a PE in the 35 neighborhood. The company looks well positioned for long term investments. jg