Project Software: PSDI Message Board

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Technology Stocks : Project Software: PSDI

PSDI 0.00

Mar 22 5:00 PM EST

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To: soozathelooza who wrote (29)	4/3/1997 10:01:00 AM
From: Todd D. Wiener	of 134

Paul- I just sold my entire position in PSDI. I may get back in at a later time, but I've noticed a disturbing trend recently in stocks that gap down on heavy volume. Generally, the volume of shares traded during the gapping down, divided by the total outstanding (or percent of total stock), equals the percentage loss that occurs after the gap. In other words, since about 3.3 million shares traded yesterday, and PSDI has about 10.5 million shares out, PSDI may not find a bottom until it reaches about $10 or so. I don't know why this happens, but it's been pretty accurate. I sold my shares a few minutes ago, and the stock had already fallen through yesterday's low of $14.75. At last count, PSDI was trading at $14.25. I think that it might get worse before it gets better. TDW

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