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Technology Stocks : Disk Drives - Buy When BLOOD is in the street
WDC 49.26+2.5%Dec 10 3:59 PM EST

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To: P.T.Burnem who wrote (72)11/12/1997 5:06:00 PM
From: Mark T. Heath  Read Replies (2) of 93
 
I just went and checked a five year chart on WDC and don't see it selling anywhere near five dollars in that timeframe. Today's closing price is the lowest the stock has closed at in five years.

quote.yahoo.com

Well, there is blood in the streets for sure on DD stocks. It seems no one can escape the Asian currency crisis. Fortunately, I sold half my position in WDC about one month ago, but still hold the other half. Looks like I'll be selling covered calls for a couple of quarters trying to erode some basis to play catch up. Valuations for DD stocks, even using the revisions that have been coming out the past two weeks, look attractive to me now. I guess the clincher to me is that everyone is either downgrading the stocks or predicting nothing but bad times for the DD stocks. Sounds like a buying opportunity if you can show some patience and let the panic/Asian situation get through.
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