Harmonic Lightwaves (HLIT) Message Board

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Technology Stocks : Harmonic Lightwaves (HLIT)

HLIT 10.06

+0.1%

Jan 6 3:59 PM EST

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To: Richard Chow who wrote (1084)	6/20/1997 5:57:00 PM
From: Hiram Walker	of 4134

Dick, I was looking at the options activity and noticed a large open interest of the 17.5 calls(Shlomi Cohen alerted me). I believe this is a large mutual fund selling call options. I think there is a lot of nervousness about this quarters earnings,and with good reason. Ley stated this quarter would be back end loaded,and also all of their new products do not come out until the third quarter. Well the price weakness over the first quarter was due to the venture capitalists selling out their stake in HLIT(Essex),they sold all of their holdings over 1.5 million shares over the first three months of the year. It gave people a bad feeling. The last point is they never release new accounts until the installations are complete. The last time they released any news on sales was last year to TCI and TWX,it was big news. I guess they let their bigger competition know what they were doing and it ended up to be detrimental to HLIT. In a vacuum, a stock tends to be more volatile,and the volatility tends to be downward. Tim

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