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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Tom M who wrote (2343)	5/21/1998 10:38:00 AM
From: Mark Brophy	Respond to of 5944

Re: Phoenix and Adaptec Another similarity between the companies is that the trustbusters have figured out the game and requested additional info. See biz.yahoo.com for Phoenix-Award details. As I mentioned before on this thread, the government is trying to tell you that you made a good investment. But, I think there are a lot of differences. I bought Adaptec because they got a steal on Symbios. Phoenix paid a lot of money for Award and it wasn't a bargain, but it's worth it because now they can charge a tax on almost every PC and increase margins. Adaptec has been charging a high tax for years and the party is over. It will not go back to 50 for at least 2 years. Competition has arrived and our task as investors is to arrive at a proper valuation for the company. I'm a trader. I sold Phoenix at the peak in Oct. 1997 and bought it back again at a much lower price in Feb. 1998. I sold Adaptec a few months ago at 25 and have been slowly accumulating it and now have a substantial position at an average price of 19 3/8. I anticipate lightening up at 25 and selling it all at 30.