...thought that was Dewey, Skruem & Howe... :o)
Agreed on the "inopportune" "timing". I've come across a few of these CAS's lately. Always in the midst of a significant momentum buildup. Don't want to draw any conclusions, since, as a private investor, I'm so far removed from the trenches of the market games, my ignorant thoughts would be an insult to the pros...however, I'll be diggin' a bit to see if CASs are used as a tactic by the big boys. Maybe a way to stall a run. Maybe to shake out those that would be most frightened by such news & lawyers...the little guy that owns a coupla hundred shares. Maybe a way to let the big boys catch up to the company's improving potential which they were too slow, lazy, or stupid to notice.
Sorry, just some thoughts...:o) I've developed quite a distaste for the opinions of some of the pros out there. Most poignantly w/CELL...on 10 March...Nine of the ten analysts following the company had the stock rated as a "strong buy" the day Brightpoint made its dim earnings warning. BT Alex. Brown had even upgraded the shares (http://fnews.yahoo.com/fool/99/03/19/trouble_990319.htm. On the 11th & 12th, Alex Brown, McDonald, Cowen, Legg Mason, Merrill Lynch, Sands, & Warburg all downgrade the stock.
That's CS.
What's more, they pull all their money out, trading ~30M shares and dropping the price by more than half.
You know who should be sued...the guys that predict the price, the guys that push the price...the guys that dropped the price. Your friendly, neighborhood, full-service, "professional" investment advisor.
I now turn the soapbox back over to the public domain...:o)
I haven't tallied the trade logs yet, but a quick glance at the log from today, shows a majority of the big blocks (>10K shares) going at the ask. I'll take a closer look before Monday.
My prediction from way out on a limb is a minor pullback Monday, maybe into Tuesday-Wednesday. Firm up & move forward.
fwiw...:o) |
