Glenayre Technologies(GEMS)- a pure cellular PCS play? Message Board

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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?

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To: Nutty Buddy who wrote (3156)	7/8/1999 4:25:00 PM
From: Fun-da-Mental#1	Read Replies (1) of 3431

This recent rally has strange dynamics. On Thursday July 1, 9:05 am, news of the Lucent deal comes out. No reaction from the market. Then first thing Friday morning somebody buys a block of 2.5 million shares, sending the price briefly up to $6 (CBS Marketwatch). Then over the rest of Friday and the next few days, about 20 million other buyers jump on the bandwagon. I think this is strange because normally the market's reaction to news is instant, or even anticipates the news. It's crossed my mind that maybe this is insider trading on a huge scale, based on some other news that's not available to the public. But more likely it's just that one person (or institution) made a rational decision to buy 2.5 million GEMS and this set off price/volume alerts for day traders in basements across the country. Just a false alarm??? Actually I'm a believer in GEMS. Of course they'll never go back to $60 again, but with such a large established business I don't see why they couldn't make 7 or 10. Fingers crossed for next earnings report. (Which raises another (rhetorical?) question: how do analysts set price targets? I fully admit mine's a guess.) FDM

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