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Technology Stocks : PWAV- the hot new IPO -- Ignore unavailable to you. Want to Upgrade?

To: Rich Powers who wrote (1190)	6/15/1998 11:22:00 PM
From: Doug Fowler	Respond to of 1491

I have decided to wait until the earnings report before jumping into PWAV again. Right now, the psychology for tech stocks, especially Asian stocks, is awful. I hope to see PWAV reporting at least 60 percent of sales outside of Asia. If that happens, I will be a buyer again. I just don't think the current bloodletting is over, and I think it is possible that things in Asia could get MUCH worse.

To: Rich Powers who wrote (1190)	6/16/1998 12:25:00 AM
From: Medisco	Read Replies (1) \| Respond to of 1491

Genesis Merchant Group Securities reiterate a Strong Buy on PWAV and sees current price level as a great buying opportunity, the firm beleive that PWAV is on track. I quote: "We believe Powerwave's 40% gross margins and 100% plus return on invested capital, indicative of its strong competitive position, justify a premium valuation relative to the competition. In our opinion, large original equipment manufacturers of wireless infrastructure are examining outsourcing opportunities. As a likely beneficiary, we believe Powerwave is poised for significant growth." their target price is $40

To: Rich Powers who wrote (1190)	6/16/1998 12:31:00 AM
From: Rob S.	Respond to of 1491

No doubt that PWAV and many other tech stocks have been beaten up too much and are now under valued. However, there is some reason to believe that the market won't come soaring back quickly. During the past few market corrections, the individual investor pretty much saw it as a opportunity to buy. For instance, during last October's sell-off the individual investor did not take money out of mutual funds or sell stocks directly. And when the institutions sold off, the small guys came back in strongly and the market started moving up. This is different. Equity mutual funds have seen a surge and movement into bond funds and utilities and out of equity funds. The funds were at precipitous levels of low net cash reserve position - a point where any withdrawals have forced a corresponding sale of stock. My guess is that we will see a couple more weeks of decline before the market rallies much.