[Opinion]
Rob --
I have every reason to think you're right. For one thing, I discovered who's been doing the big selling for the past few weeks. Someone had suggested it was institutions, and by the sizes of blocks, it well might have been. I countered it was an acquaintance who controlled close to a half million shares and had become disenchanted and was going to both short and dump. Both scenarios are wrong. Between my own asking around and a good friend/broker making some calls, we've located the culprit. I won't name names, for many reasons, but truth is it's not important. There's a regional manager for a large brokerage house who has a big following. Over the years he's made a name for himself as a savvy stock picker and one stock he and his followers have held for over a year now is Amati. About a week ago he put out a general sell notice *for his entire holdings.* In other words he felt market technicals were breaking down and decided to step to the sidelines. That's when the selling began, and, yes, there were some big holders who stepped to the sides along with him. That selling's over and now what we're seeing is probably the result of margin calls.
As far as Amati goes, the product announcements are still on target for InterOp and there's been no change in the hoped-for announcements between now and then. Tac will be back from vacation on Monday and, of course, my overly optimistic mind is hoping he'll release something as JS leaves for NYC and Boston where he plans to impress fund managers with Amati's future. Hey, if I were a CEO, I'd want to walk in the door with my stock up a few points, wouldn't you?
As you well know, because one and one make two in my world, doesn't mean it's so in the world out there.
And then there's the matter of the bigger market. Insane. Where's Pirandello when we need him?
Cheers!
Pat
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