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Technology Stocks : Newbridge Networks
NN 15.87+2.5%Dec 5 9:30 AM EST
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To: akmike who wrote (14108)10/30/1999 1:25:00 PM
From: Ian@SI   of 18016
 
Why would major buying commence with the stock in a free-fall?

We just finished the major window dressing season for mutual funds.

First the fund managers shed their losers, of which NN would certainly be one, so that they look like geniuses with only winners for their unitholders to see in the annual reports.

Second, they are able to offset any capital gains with capital losses as some, not many, but some are paying a little more attention to the tax consequences for their unitholders.

I'd expect the funds to resume building up their positions starting Monday. Others will wait until we get past the earnings warning week. Still others will await the next earnings conference call. But if we haven't already seen the bottom, I'd guess we're less than a week from it.

JMHO,
Ian.
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