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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: oilbabe who wrote (1985)9/20/1999 9:27:00 AM
From: quidditch   of 15615
 
Good question, hard to answer. Two weeks ago as GBLX was hitting its recent lows (along with FRO) as they renegotiated the merger share exchange ratio and as the Street was trashing broadband stocks generally, the volumes in GBLX were enormous, shorts, puts and calls were probably bought to hedge or take positions and perhaps position institutions for the switch in index inclusion. I think a bigger long-term issue for GBLX technical factors is the enormous overhang of insider shares when these (after one deferral) become available for sale.

Regards. Steven
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