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

To: D.J.Smyth who wrote (930)	1/7/1999 6:10:00 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 1461

I was not one who raised worries about floorless convertibles and such but I did stay neutral (rather than go long) because of those worries. In hindsight (only days later) its clear I could have made some nice short-term gains. However, I think I made a good decision then and will stay neutral now since + those worries admitted the possibility of a short-term price run-up... as I recall, the concern was for a price crash in the early-May time frame... that may still occur. + I don't usually invest for very short-term (e.g., less than one month) gains... too hard to predict. Also, I usually look to triple my money... over a period of a year or so... with low downside risk. P-COM still does not meet my investment criteria. The recent gains, today in particular, have been spectacular and I am very happy for all those fortunate enough to have been long. But this still does not look to me like a place to hold... and certainly not a place where I would buy P-COM. There was a similar price spike awhile back (last Summer?) in conjunction with press releases about P-COM/Siemens/Winstar and PMP technology... I think the price dropped shortly thereafter as euphoria subsided and more sober minds looked at the prospects for P-COM. True, this time around we feel closer to a recovery in Asia... but also this time around I'm worried about those dang convertibles. Good luck to you longs... but I'll still remain sidelined. Is anyone so sure about a pending price plummet that they're willing to go short about now? I'd like to hear from you. Has short interest increased much in the last few days? Who among you is bullish enough to buy now, at this price? Rob