<<Don't say I didn't tell you so>>
Gloating is a very human emotion, but with social interaction and training we rise above it. I expected better of you.
That said, it's not an altogether closed question as to whether your prediction of $25 comes true. When I said that it wouldn't get there, I qualified it to the extent of saying: 'absent a 1987 crash.'
Of course, that may just be what we get tomorrow. But I have an observation I'd like to share.
CLOSING VOLUME
In the last hour, the bulk of the damage was done, COMS going from 27 5/8 to 26 3/8. By 15 minute intervals the volume was as follows: 563K, 400K, 609K and 708K in the last 15 minutes. This is about 50% above the midday average, but is well below the volume in the first hour of today's trading. The last hour's trading was not especially heavy from a historical viewpoint, especially contrasting it with the last few days,
Contrast this with the closing volume of any other tech stock you can name,e.g., DELL, CSCO, IBM etc which I have checked. The last hour volume volume in these stocks doubled or tripled any other 15 minute period of the day. In Cabletron, which you have touted, the closing 15 minute volume was crushingly high. The impression gained from these other tech stocks is that investors were stampeding for the exits. This did NOT occur in COMS.
Of course, if tomorrow is as disastrous a day as I expect, you may be proved right. But the contrast is still interesting.
Bruce |
