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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Kevin who wrote (2018)6/23/1999 10:13:00 PM
From: Marty Rubin  Read Replies (1) of 2693
 
Kevin,
The guy has a "sell" on the stock and it makes him look really fool. He has got to blame someone for the rise. 10-15 minutes before the close, the stock advanced from (bid-ask) 11-7/8-15/16 to 13-13 1/16. Is that a short squeeze or just momentum? I thought the stock would not break 12, and am sure, judging by the selling, many others thought the same. then it touched 12 and every mother's limit order went through.
BTW -- I don't expect much from this guy (Mr. Kidd). Companies with a negative rating on a stock receive very little attention from insiders. As to Lehman, they are market makers in the stock so i wouldn't trust them much (6/22: "re strong-buy" to $30). But, of course, many of those analysts do make a market in their stocks so I basically trust nobody.
There's a good chance it will open higher tomorrow; very strong afterhours.

Marty

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(''The stock had been so shorted in recent weeks that you could not have borrowed shares if you were God,'' said William Kidd, an analyst at C.E. Unterberg Towbin with a ''sell'' rating on the stock. ''Like other short squeezes, when the shares start to move up and so many are betting negative, pain often begets more pain.'' (C)Copyright 1999 Bloomberg L.P. #reply-10243934)
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