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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: sea_biscuit who wrote (17789)	4/7/1999 8:26:00 PM
From: Ross	Read Replies (2) \| Respond to of 25814

Let's think back to mid 1996. Between mid 1996 and mid 1997, LSI stock rose from 20 to 45. It didn't go in a straight line. It was more like 3 steps forward and 2 steps back, but it stayed within a comfortingly narrow channel. That's sort of the way it is now, but it was a little calmer then. The trailing P/E was quite high (I don't remember how high), and it was easy to think about selling, but the forward earnings projections were very good and appeared to be well founded. That is also not unlike today. Then, in mid 1997 LSI dropped with a sickening thud (if a stock could make a sound), dropped again at the end of 1997, and had a final collapse at the end of 1998. I remember that last one pretty well. Can anyone remind me what caused the mid 1997 drop from the peak of 45? I think the things people are saying now are similar to what they were saying then. Can anyone tell me why we're right this time even though we were wrong then? Thanks. Ross