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

To: The Philosopher who wrote (4352)	1/28/1999 6:35:00 PM
From: J. Plesha	Respond to of 5944

There was a rumour on the yahoo thread about CEO moving on. If true could account for the drop. I am going to check charts to see if it was institutions selling or just us peons. Joe P.

To: The Philosopher who wrote (4352)	1/28/1999 6:53:00 PM
From: J. Plesha	Read Replies (1) \| Respond to of 5944

No my T2000 charting shows adaptec under heavy accumulation by institutions. Must have been the people on margin covering their short positions on the internet stocks after greenspan blessed the internet irrational exuberance. Who knows. In fact the accumulation today was pegged up. That pretty much goes with what I could see on the live java charts trading. My Two cents worth. Joe P.

To: The Philosopher who wrote (4352)	1/28/1999 7:14:00 PM
From: Starowl	Respond to of 5944

Bad news seems unlikely so soon after the very favorable earnings report. I think Boucher said way back in August that he expected to be managing things for about nine months. Even so, an announcement of a new CEO wouldn't necessarily be viewed as negative, unless, of course, it were Yogi Berra (bless his good heart) or Steve Martin. I haven't heard anything about disasters either, so the Singapore plant is probably still standing. And to my knowledge, there have been no announcements of breakthrough technologies replacing SCSI. Given all that, there must be some other explanation for the downturn. The above average volume today coupled with the drop doesn't tell me a lot right off the bat, except that there was a fair amount of interest in the stock. There is no good reason for the stock to soar at this point. After all, it has only demonstrated one good quarter in the last five and it has rewarded investors for that already. It probably needs one or two more good quarters to prove that things have really gotten better. I think we'll see those good quarters, but for many institutional investors betting on hope might seem too risky right now, especially with so many excellent companies with a string of good quarters and still good prospects. Why not wait until Adaptec shows more degree of certainty this was no fluke. It may seem a tough verdict, but it tumbled once . . . . If it drifts along between 21 and 24 for awhile and then starts to edge up toward its 52-week high of 27 1/2, that might indicate a breakout. But this could go on for several weeks. Having been stung once or twice already, I can't discount the possibility of it dropping more. But I don't think so right now, so I'm not ready to bail out. Ramblings. Starowl