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Technology Stocks : p-com (pcms) -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Mapes who wrote (739)	7/31/1998 1:32:00 PM
From: The Rancher	Read Replies (1) \| Respond to of 1461

the fundamentals in this market are so crappy, an analyst would look like an idiot if he initiated with a buy rating. any good analyst issues ratings based on fundamentals of the company's operating business and addressable market, not valuation. fortunately, most people know that ratings are valid only for about 5 seconds after they're issued. the "smart money" gets interested in a fundamentally sound market and business (a buy rating scenario), and then buys based on valuation (when its cheap). sooner or later, this market will come back, and i don't think PCMS can get any lower. therefore, i'm backing up the truck BEFORE any analyst initiates/upgrades to a buy (given this probably won't happen for a while). -ranch on