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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play? -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey L. Henken who wrote (2440)	1/10/1998 3:40:00 PM
From: van wang	Read Replies (1) \| Respond to of 3431

did you guys check out the trading action in the last 30 mins of trading on Friday...250K traded during the last half hour...the buying pushed GEMS up $1...my guess is the rotation to funds to low PE stocks (anything less than the S&P will be in vogue)...check out yesterday's intraday chart cheers

To: Jeffrey L. Henken who wrote (2440)	1/10/1998 4:35:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 3431

jeff, how is a 40 pe for a company growing 10% (coke) a fair valuation? ;-) that sucker s/b cut in half. ge is about a 30 pe and growing at 10%. there are quite a bit more overvalued stocks, imho, in the dow. not every one, but enough that reality could push them down a lot. the 90s has been the biggest bull market in the history of the world. not a good gauge, imho. of course, i'm long several stocks and hope you are right. but i've seen stocks like swtx get pounded and it has a great future, imho, and trades at a very low multiple relative to operating eps. companies with worse prospects trade at 3 times the valuation. mu is a prime example. they'll post a loss for the year. their cash flow has been negative for quite some time - even while posting profits. the only reason they made more than a dime in any q is b/c the koreans held back inventory as a strategic ploy (won't happen again, though ;-) mu's future ability to play the crossover game that gets more expensive and has shorter cycle times should be in doubt. and nobody cares. it trades near $30. anyway, good luck. we are due :-)