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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Switz who wrote (3787)	9/30/1998 3:17:00 PM
From: Tom M	Read Replies (1) \| Respond to of 5944

Anyone else having trouble buying "anything" after this ADPT experience? Man, if everybody has one ADPT in their portfolio, they know what can happen. And by the number of New Lows we've seen this entire year, I'll bet most people have one that's been taken out and shot. Makes me think we can set some serious new lows in this market. When things are priced for perfection, the upside just isn't worth it when they take you behind the shed and strip multiple years of gains away. Every time I evaluate a stock that dipped lately, I think of the ADPT downtrend & usually pass. Thread's justifiably slow lately so I figured I'd just vent a bit ;-) good luck all, Tom

To: Jim Switz who wrote (3787)	9/30/1998 11:40:00 PM
From: Cris	Respond to of 5944

> A drop to under $7, with about $6 in cash (book value is about $7.50 right now), means that the market at that point would be considering the company to be essentially worthless. I've stopped thinking there's a point it couldn't go below. I haven't had time to watch the live ticker lately, but there was no shortage of short sales at 10.5 or so. As an ex-employee, I know that I can't really judge the company clearly. I keep expecting things to get better, but am having a hard time coming up with a reason to think so. I'm trying to decide whether it's a sign of good discipline or stupidity that I've held on for the long ride down. You know, "the time to buy is when things are darkest" and so on... It's just that it seems to keep getting darker. All I can say is that whoever in ADPT Finance that thought up the $230M of 4.75% bonds with the $51.75 warrants sure looks brilliant. I just hope that somebody can figure out what to do with the cash. Sigh. Cris