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Technology Stocks : S3 (Multimedia semi's place 2be)
SIII 0.00010000.0%May 12 5:00 PM EST
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To: Andy Parham who wrote (7886)2/18/1997 5:29:00 PM
From: mark doubiago   of 9477
 
Don't be surprised by this action, this has been in the making for the last 2 months. S3 has been under accumulation for the last 2 months and shares are drying up, therefore the price tends to go up. The day traders have left for greener pastures and S3 has settled down. I believe some of the buying is Mutual Funds. The last few weeks have probably been helped by the dog and pony shows, while before that it was probably investing in an under valued company. We may also be picking up some money that has left Intel and some of the other big companies that have been having some bad press lately. It seems that there is not much selling going on even when S3 peaks up. I believe most of investors that are left are basically in it for the long term and are waiting for the 20s and 30s. There may also be someone other than the Mutual Funds picking up a lot of shares, but who knows for sure. This is definitely not the stock that it was last fall for months and months, S3s action has changed for the better. That is not to say though that it isn't going to be driven back down to that 17.25 - 17.75 range by the MMs to spoil options expiration next week. It will take something big to keep that from happening again.
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