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Technology Stocks : Wind River going up, up, up!
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To: mac who wrote (1112)5/22/1997 9:06:00 PM
From: Joe Smith   of 10309
 
It seems to me that this message is expressing that the writer is also perplexed and is wondering if maybe it was something in the conference call because that seems like a logical possibility. They are looking for info, I believe.
Well, I don't believe it is the conference call so I am inclined to look somewhere else. WIND has had an incredible run-up in three weeks time, nearly doubling. Now that the good news is out and WIND has not only tested its pre-crash high but exceeded it, perhaps some investors decided to cash in their gains. Especially considering the nose-dive that it took in February in the midst of another great quarterly report, it doesn't seem surprising that people might get squeamish at the high altitude. Also rather than tearing out their hair, I believe that short-sellers may have seen 36.5 as an opportunuity to get in just as many of you saw 20 as an opportunity to buy long.
Our first impression is to expect that a large swing must have been due to fundamentals expressed in a conference call, but I think we have to start looking elsewhere. The crash had nothing to do with change in fundamentals. I believe that Alllen postulated that it may have been a concerted effort by shortsellers.
When the dice are loaded you never know what's going to happen even if you bet with the odds. Unfortunately the best strategy in these situations is to side with the person whose dice are being used. The last month, it is the long players who got to bring the dice. Today they stayed away, enjoying the good news and let the short-sellers bring in theirs.
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