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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: JPM who wrote (1749)	6/2/1998 1:09:00 AM
From: Danny Chan	Read Replies (1) \| Respond to of 3818

I short stocks mainly for hedging purpose, not really momentum. The recent tech correction has two characteristics. 1. All semis 2. All high P/Es. I recently rolled out of some other corrected ones and get into MMCN because it's high P/E is way out of line with the current market. A less recognized stock like MMCN may not correct steadily with the down market. If the tech continues to fall, it may correct all in a sudden. If tech recovers, I think my long positions will have a greater upside potential. Danny