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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI)
IFCI 0.06000.0%Jun 7 5:00 PM EST
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To: Charly who wrote (2753)7/6/1999 10:39:00 PM
From: david james  Read Replies (1) of 3541
 
The institutions and other prospective buyers are now caught in an interesting dilemma. From the bit I was told and seen on Level II, up to today there were some of the old institutions that were selling a bit at 9. They were probably following their analysts that downgraded from strong buy to buy - and were prepared to pick up a few shares on the dip following the 8 or 9 cents earnings that we are now expecting this quarter. The problem is that it looks like Oppenheimer has picked up everything they've wanted to sell under $9 and after the annual meeting, everyone that really matters already knows its going to be at 8 or 9 cents and here we are at $9. So now it is starting to look as though anyone who sells under $9 may have to pay more later - especially those waiting for 3rd quarter earnings.

So what do the analysts do that downgraded to buy. It was a fair thing to do considering the drop in this quarters expected earnings. And I am sure they planned on putting the strong buys back after the upcoming earnings in anticipation of the third quarter earnings.

I suspect that we will see the volume drop as those selling at $9 and above start to figure out that there is a decent chance that there will not be a great buying opportunity after earnings - especially for those institutions wanting and waiting to buy a good hunk of shares.

The next few months are going to be quite interesting.

Dave



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