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Gold/Mining/Energy : JDS Fitel -- Ignore unavailable to you. Want to Upgrade?

To: Hank Stamper who wrote (696)	2/3/1999 7:44:00 PM
From: pat mudge	Read Replies (2) \| Respond to of 815

, I really don't understand why anyone would talk about 200 at this point. This sort of talk (i.e., 200, with no fundamental support for such a notion) suggests to me that JDS shares are part of the hi-tech internet bubble. When bubbles get big and stretched thin, any crisis--large or small--can lead to panic selling. Then, the power of emotions that drove the prices higher in the first place drive prices lower. Panic is a very powerful emotion and people do all sorts of unreasonable acts when in its thrall. Including, selling shares in companies like JDS at prices below what is sensible given the fundamental worth of the firm. First of all, I question your belief that JDS is an Internet stock or even related to the gaseous high-fliers. The recent run-up was due to the Uniphase merger and not baseless hype. Secondly, for a look at the growth prospects in the fiber optics sector, look at SDLI's earnings posted after the close today. DWDM sales up over 100% and conference call indicated they expect the same in '99. These numbers include no contribution from the Metro market that's just beginning and only 5% from submarine products. I've followed JDS for over a year, now, and apart from this recent merger surge, it's about the most unemotional stock I own. From all I've seen, shareholders aren't easily panicked. To the contrary, most wait for momentum players to clear the field and say a quiet thank-you for any buying opportunity they're given. Just my take. Pat

To: Hank Stamper who wrote (696)	2/3/1999 9:10:00 PM
From: Edward W. Richmond	Read Replies (2) \| Respond to of 815

David, you may well be correct that the internet bubble will burst. However, JDS stands out from Amazon and company in that it has an established market and terrific earnings from a sector that will grow. I have held this stock since its IPO at $3.75 and I am not taking profit because I see a long-term growth story. I expect to see good earnings growth and a steady stock price appreciation. Sure it may be volatile, but I'm convinced the trend will be up. I see no need to hype the stock. Revenue and earnings will take care of that. Regards, Ed