Rumors, rumors.
In response to Dee Jay, my information is simply off the Bloomberg.
A price cut on various models, and later in the interview the manager
mentioned preparations for major announcements in two weeks.
I want to adress the market action in the stock. There were two
themes in the market today: DEC's negative conference call, and the
news of the investigation of this idiotic Cabot Letter. None of this
really has anything to do with the action of Ascend's stock.
I believe that the market makers took advantage
of what would have been a thin day, both seasonally and because of the
report tomorrow, to blow out the SOES bandits who had built up overly
bullish positions in anticipation of the next move up in the market.
During days like this,the best stocks are often hurt the most--in this
context it is an indication of the justifiable enthusiam for the
shares--because SOES bandits became overextended and suceptible to
attack. This fight they must lose because they have far higher costs
than the dealers,and cannot trade with each other, but only with the
dealers. Their operations in the shares, though costly to them, should
be seen as a compliment.
A huge number of shares traded today. The market has been cleared and
passed into the control of the dealers. It was a buying opportunity.
The stock can resume its rise, and the dealers will sell shares to the
institutions and the public without interference.
Matthew |
