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

To: Billy Joe who wrote (1985)	7/27/1998 6:23:00 PM
From: devans	Read Replies (2) \| Respond to of 3818

Picked this up on the ASND thread... Message 5325843 It's from a thestreet.com article (which i couldn't find on their site BTW)... Here's the highlights... "I like to go one more layer down," says Landis. "Open up the gear from Nortel, Ciena, Cisco and Lucent -- and what do you see? You see chips from PMC Sierra (PMCS:Nasdaq), Applied Micro Circuits (AMCC:Nasdaq), Vitesse (VTSS:Nasdaq), Transwitch (TXCC:Nasdaq) -- now you're singing my song." Chips stocks, of course, have been crushed across the board by the economic downturn in Asia (that's another Wall Street cliche for bank runs, armed uprisings, developing nation streets choked by smoke from burning tires...). But there's a big difference between low-tech dynamic random-access memory chips and the super high-end chips from PMC Sierra. "Every time some pundit comes out and says DRAM pricing is still really weak, all the chip stocks fall," says Landis. "Traders on the Street don't know what's in their portfolios, so they just sell. And that's when I buy." Landis hasn't quite bet the farm on these chip companies, but more than 10% of his fund is in these names, and PMC Sierra is now his single largest holding. Landis says he's tempted to buy more. "It's hard to double down on your largest position," says Landis, "but I think these guys are as close to bulletproof as a chip company can be." But of course that's exactly why we all bought PMCS in the first place, right?

To: Billy Joe who wrote (1985)	8/4/1998 2:07:00 PM
From: Billy Joe	Read Replies (1) \| Respond to of 3818

Short term musings for a long term position....Uhhh...Somebody kicked me at the beach and said the mkt was taking a dive. PMCS resistance could be broken to go down to the 34-35 range if the general market malaise continues. This violates my 37-50 range prediction, but it's based on the number of Aug 35 puts that are currently in play. In my estimation, the puts dragged down the price severely to cover after last Qs earnings. The general market problems may be just what they need to get the price where they want it (albeit, there's better call action at a higher price (in the 40-45 range) than there was last time....). Hmmmm. Add to my position again if it breaks 36 resistance (it shouldn't move more than 10% below that).