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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: Bulldozer who wrote (2430)	3/26/1999 5:33:00 PM
From: Trader Dave	Respond to of 3818

Ok BD, I'll take your bet. you think there won't be tech wreck that makes PMCS cheap again this year? <<It is nowhere near as silly cheap as it was last summer and fall. Those are extreme opportunities that don't come along very often.>> Your example proves that you are incorrect. It happened twice last year and I bet it happens once every year or so for the next 5 years. You know as well as i do that there's fast money institutions in this thing and a fair percentage of the large shareholders couldn't distinguish PMCS from Micron. If they could, they sure as hell can't distinguish pmcs from other merchant semi vendors. I disagree, something happens that's really stupid before the year closes out, and we'll buy more, but we'll be too spooked to buy enough. TD

To: Bulldozer who wrote (2430)	3/28/1999 8:40:00 AM
From: JZGalt	Read Replies (1) \| Respond to of 3818

I continue to believe it is harder and harder to find a great story that no one else knows about. In the communications chip area and in the networking / telecommunications area, I would agree with you, but there are other tech areas which hold promise. Consolidation and emergence of clear leaders make this sector an unlikely one to look for screaming bargains unlike last October. You're just not going to find bargains like PMCS at $23 and TXCC at $11 or UNPH at $35 again. Worth keeping an eye on the sector but not at top of list. I'd start to get real interested if PMCS dropped below $60 into the $55 area. That would be about 35X next 12 months eps. Not as cheap as when Kurlak twisted Osha's arm to issue a warning last year, but I think a "reasonably cheap" price we might get in next 6 months. Just an opinion.