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Technology Stocks : THREE FIVE SYSTEM (TFS) - up from here? -- Ignore unavailable to you. Want to Upgrade?

To: dfloydr who wrote (1628)	6/2/1998 12:43:00 AM
From: Maurice S. Green	Respond to of 3247

Boys- I bought some more Friday @ 17 and 17.438 and felt pretty smug even if I didn't fill at 15 1/2 with my opening orders. Not feeling so smug now. Floyd--if you get off the puter and want to do some putting Tues morning--call me.

To: dfloydr who wrote (1628)	6/2/1998 1:19:00 AM
From: Noblesse Oblige	Respond to of 3247

Offthread, Hi D Floyd... At the moment, I don't feel that smart and my guess is that you are in the same mood. Seems to me, the only one that should feel happy is Franklin (after all, he says he is out), but he seems to be in the worst mood of all the participants. Human psychology is interesting, is it not? <G> Yes...our posts were remarkably similar, even down to the percentages. What I find most interesting is that TFS's shares have apparently traded down to (believe it or not!) below the opening trade on the day that the company announced the first Motorola contract cancellation. As some of you may recall, that was over two years ago, and the shares opened following that news (when half the company's MOT business disappeared overnight!) at $ 15.00. It pays to keep these things in perspective. Since that time, TFS has added Hewlett as a major customer, increased the number of MOT programs from two to more than a dozen, decreased the percentage of MOT business from about 75% to what is now certain to be less than 50% this year, come up with three new technologies and NSM, a new joint venture partner, is expanding in China because it doesn't have the capacity to meet expected demand, etc. Wow...a totally different company. Lots of progress in lots of areas, but still trading below the opening on that fateful day. The market has gone bonkers. Floyd, the young un's don't have memories that can put things in historical perspective, but the piece of paper you own is worth much more than that which existed just over two years ago. And, what is really the risk here? I can't imagine any circumstances where...short of losing all three MOT contracts now "delayed"...that the company won't earn a buck in 1999. So, 15 times disastrous earnings, no debt so no substantive financial risk, interesting technologies under development with interesting customers, AND still the largest LCD manufacturer on the continent. Also...management is sure enough of the future that it is expanding every corporate facility, even to the point of doubling production space in the Far East. Amazing!! <shaking head>