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Technology Stocks : Summit Design (SMMT)-Another EPIC? -- Ignore unavailable to you. Want to Upgrade?

To: Claude Edelson who wrote (70)	4/24/1998 4:41:00 PM
From: Andrew Furst	Read Replies (1) \| Respond to of 100

Nice to see that Needham "strong buy" reiteration, and that BARS has "raised the bar" to 65 cents/share for this year. Today's action isn't completely surprising. I think there were some "hot money" investors who noticed the jump in SMMT following the 4th quarter earnings release, and they hoped for something similar after this quarter's release, probably buying into SMMT over the past week or so. When they saw that SMMT was not going to get this kind of "pop" after an hour or so of trading today, they started to bail out in order to fund their next short term play. Just a theory, anyway. The main thing (to me) is that the numbers were good, the balance sheet is solid, and the analysts still like the stock.