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Technology Stocks : Network Associates (NET) -- Ignore unavailable to you. Want to Upgrade?

To: FoxGlove who wrote (3319)	10/2/1998 6:42:00 PM
From: Phil Jacobson	Respond to of 6021

<<NETA down 3 pts today. Anyone know the reason?>> No point in asking anymore. I dumped it today. This looks like yet another falling knife in the making. From now on any stock that looks like this on good day overall gets chucked like last week's leftover fish.

To: FoxGlove who wrote (3319)	10/2/1998 7:01:00 PM
From: Richard Haugland	Read Replies (1) \| Respond to of 6021

Why the drop today: Presumably this was due to general weakness on software stocks initiated by downgrades of Peoplesoft (PSFT), which was the most traded stock on the Nasdaq today, losing more than a third its value at one point before recovering a bit at the end to close down a quarter. However PSFT had a P/E of about 55 and perhaps deserved to take some hits. quote.yahoo.com I feel that SYMC announcing weak software sales and laying off about 100 people this week also precipitated part of the problem for NETA. SYMC closed down about 16% today, whereas NETA closed down <10%. After the market closed today Oracle also warned of price cuts ahead in their databases because their competition is becoming stronegr and bundling programs. NETA is still a great day trading stock. I was in today at 29 7/8, out at 31 3/8, back in at 30 9/16, back out at 31 3/8 and back in near the end at 30 9/16 on one account and in at 30 11/16 and out at 31 5/8 on another account. Problem is I am also still in at prices much closer to 40 on a lot of other shares. This alleviated a bit of my pain today on NETA but to drop from 40+ and moving up to 31 still hurts a lot and I now have more shares of NETA than I did at the start of the day (but at a lower basis). NETA better make its numbers. Link to positive NETA whisper numbers below but I would not put a lot of reliability in this data: earningswhispers.com