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

To: margin_man who wrote (28105)	1/21/1999 4:32:00 PM
From: Greg Thornton	Read Replies (2) \| Respond to of 36349

margin_man, Someone at work told me he heard that PAIR is reporting results on Monday, but their website still shows January 29, which is next Friday. Does anyone know for sure when PAIR is reporting? Greg

To: margin_man who wrote (28105)	1/21/1999 4:44:00 PM
From: BWAC	Read Replies (1) \| Respond to of 36349

Margin, I watched and counted all day, well actually I lost count somewhere along the way. But, consistently all day long, larger trades of 10,000 shares went off 1/16 ABOVE the ask price at the time. There seemed to be one about every 15 to 30 minutes. Maybe 15 or 20 in total. More frequently in the last hour. (Specifically between 3:40 to 3:43 I saw 6 individual trades of 10,000 shares each go off at 10 11/16 and 10 3/4. The bid/ask at this time was 9/16 by 5/8. And the intermingled trades between these 6 were small and at the respective bid/ask price.) I think the Market Maker worked this one hard today. Trades at the ask way outpaced those at the bid all day long. Yet the price moved very little. It was a strange day.

To: margin_man who wrote (28105)	1/21/1999 6:42:00 PM
From: David Browning	Read Replies (2) \| Respond to of 36349

mm....the remarkable thing is that we were up today! As a long-term investor who came upon PAIR last Fall as part of a research effort into the bandwidth business, I had the pleasure of averaging down a good bit as the stock fell. As others have said, the combination of experience, balance sheet and new management was compelling. However, it is only in the last couple of weeks that I have begun to see light at the end of the tunnel, as opposed to lots of hopeful expressions. Today's performance was significant in a lousy otc market. I will be very surprised if some major news concerning ADSL, particularly Avidia, is not soon forthcoming. The stock is too strong in a weak market; those who are in the know are buying at what will be cheap levels when reviewed not far down the road. Luck to all. David

To: margin_man who wrote (28105)	1/21/1999 9:43:00 PM
From: DWCraig	Read Replies (1) \| Respond to of 36349

WSJ Article: The Smart Way to Play the 'Net Is Through the Phone By JOHN C. DVORAK Hordes of online traders and individual investors are jumping in to the stock market's Internet gold rush. Hoping to find the next Yahoo!, they are bidding up prices of initial public offerings like Marketwatch.com or Theglobe.com 400, 500, 600 percent on the first trading day. But when it comes to the Internet, the smart money is still conservative. The shrewdest investors are trying to figure out where the Internet will change things on a fundamental level, and then profit from that. The thinking goes like this: Let's assume the Internet is going to change everything. And if Amazon.com has become worth more than Sears, Roebuck on the basis of simply selling books (with hopes of more to come), then what other businesses that have historically been even better than the book business might benefit from changes brought on by the Internet? The answer is obvious: the telephone industry. People talk more on the phone than ever before. They make more long-distance and international calls than ever before. Enter IP telephony, which uses the addressing scheme of the Internet or IP (Internet Protocol) to make point-to-point voice connections. Currently the way you connect over the telephone is by wire switching, now done by a computer "switch" in a telephone company's central office. It used to be done manually. You've seen it in old movies: Operators in front of large boards would connect calls by plugging patch cords into holes. Eventually, big mainframe-like computers took over this function. But the same Internet protocol that allows you to connect to a Web site to request a Web page can be used to connect you to a friend with a voice link over the same network. It's not trivial, but it can be done -- and cheaply. The idea of making phone calls over the Internet was exploited quickly years ago when some people discovered that it was possible to send voice over the 'Net using PCs and sound cards as intermediaries. The quality left a lot to be desired, as latency and dropped data packets sometimes resulted in comical connections. The phone calls were free, but you got what you paid for. But it was quickly discovered that over high-speed local area networks (LANs) and more controlled environments the quality was as good as that of the switched phone system. Everyone knew that it would be a matter of time before the entire 'Net could do the same thing. Backbone speeds are improving, as is the methodology to minimize "hops" between connections. It's clear IP telephony's time is coming, and sooner rather than later. Last year, the research organization Killen & Associates predicted that today's $1-billion Internet voice service market would balloon into a $60-billion market by 2002. They also predicted that in 2002, 35 percent of all phone calls will be over IP networks. At least according to this outfit, this means the market will explode in the next 24 months. (You should note that I expected it to explode in 1998 and I was premature. See "Internet Telephony Is the Next Wave," September 16.) Who is best positioned to take advantage of -- and profit from -- Internet telephony? The big boys in this instance are Cisco Systems, 3Com, Lucent Technologies, Nortel and maybe IBM. They are all focusing a lot of attention and resources in this arena. But many observers think they're spending most of their time buying up one little company after another in a feeding frenzy. It's the smaller companies that offer the growth opportunity -- and the prospects for being gobbled up by one of the panicky market "leaders." Potential winners among the smaller players in this area are Inter-Tel (INTL), Dialogic (DLGC) and ADC Telecommunications (ADCT). And don't ignore the large telcos, which are keenly interested in this technology. Last year, for instance, Deutsche Telekom launched an IP telephony commercial test in Canada called T-Net. It let customers of Deutsche Telekom Canada, a subsidiary, use a special phone connection that allowed them to call overseas inexpensively using a normal phone -- and users couldn't tell the difference. This effort stemmed from Deutsche Telekom's investment in the Israeli voice-over-IP company VocalTec Communications. What's striking about this is that IP does not seem to be based on high-bandwidth installation. But with the emergence of high-speed Internet connections such as cable modems and digital subscriber line (DSL), the situation becomes even more interesting, as Tuesday's takeover of Excite by broadband Internet access provider @Home illustrates. (See Weekday Trader, "Excite Deal Shows Cable Modem Is King," January 19.) DSL and cable modem services can provide enough bandwidth for hundreds of simultaneous high-quality phone calls. A fast ADSL uplink of 1.54 megabits per second can handle 200 simultaneous calls. The current price for this service is about a $350 per month flat fee -- far less than the T1 lines so many organizations favor. Small-businesses owners in particular are drooling over this cost-saving technology. Compelling economics like that will inexorably drive IP technology forward over the next couple of years -- and the stock prices of players who help make it happen.