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Technology Stocks : PairGain Technologies -- Ignore unavailable to you. Want to Upgrade?

To: PaperChase who wrote (25818)	9/2/1998 6:10:00 PM
From: kormac	Read Replies (1) \| Respond to of 36349

Guys, I will offer a different view of what is going on here. I have watched this market deteriorate for the last year. Yes I held APM at the time and got out with not too heavy loss. I also held Pair at that time and sold it at its relative peak. Came back to Pair this winter and sold it for a small gain. Now holding a small amount of Pair for a loss. The general market dynamics are the following as I see them: Every weak rally leaves the small and mid caps lower. Money moves to large caps and two days ago we saw how they were sold off in huge amounts. The trouble seems to be that the world financial picture keeps deteriorating. Hong Kong government is buying shares on the Heng Seng, Indonesia and Malaysia are complete basket cases. Japanese government keeps Nikkei up by pouring the pension money into stock market. Even Taiwan seems to support their markets. The commodity prises keep deteriorating and this has put countries such as Russia and Venezuela into dire straights, not to mention the American farmer. So what is going on? Companies are starting to lose money and thus the PE is immaterial. It will shoot up when the next reports come out. I do not know if this will happen to Pair this quarter, and I hope that it does not, but it happened to all the disk drive companies last year this time. I should, of course, try to pump up Pair's price the best I can, but I wonder if I can recover this investment in Pair. If a buyout occurs, I think I will be alright, but if not I will hold for long term the small position I have. If anybody saw CNBC today, there was a fellow there who claimed to have worked, I think in the Morgan Stanley research department, and is now on his own, who said that the earnings have actually decreased quarter to quarter on the aggregate, when the so called analysts keep taking only about growth slowing down in earnings. With my best, Seppo