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Technology Stocks : C-Cube
CUBE 37.06+2.0%Jan 8 3:59 PM EST
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To: Paul Chiu who wrote (685)6/5/1996 7:03:00 PM
From: Andy Chen   of 50808
 
BUSY DAY FOR ME. I hope you all enjoyed it too.

to Paul Chiu:
just for your info, if cube close at the opening price today, it would not be counted as a hammer. hammers occur at the trough of daily- volume vs. trailing price*volume curve. please get your information straight.

to All:
i believe cube crash was largely due to several combined factors.

1) TI's announcement of TDK silicon system acquisition.
2) drop in demand for specialty semiconductor chips. (as mentioned in the altera release)
3) DVD manufacturers encountered increased difficulty in dealing with the hollywood patent issue which may further delay introduction of DVD related products.
4) robert stephens lowering estimate in mid-day WHILE cube was suffering from heavy selling pressure as investors were uncertain whether they should decrease their position.

--robert stephens has had a tricky reputation in the brokerage business primarily because they were rumoured to have been involved in short-raid or margin squeeze operations on stocks they follow.

they may have been covering their short position when they bought blocks of cube around 47-48 level. the price may go down to 42-43. but it all depends on up/down tick and short-interest as of this week (wall street loves to whip those day-trading bargain hunters)

if any fund-manager likes cube. it would be a great opportunity to load 'em up this week.

got to attend meeting, back with more info.
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