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Non-Tech : Paradise Entertainment (PDSE)
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To: SgtPepper who wrote (183)12/13/1999 8:39:00 AM
From: Jack Hartmann  Read Replies (1) of 208
 
I put in a limit order to get out. East Coast media hasn't picked up the LA Times story. If it does, flood to sell out will be larger. If it doesn't, maybe nothing for a while. Story explains the selling. Cassandra may have to liquidate everything if they lost 90% investing in Iridium. I figure there will be a flood of redemptions. Redemptions are the precursor to a death rattle of a mutual fund collapse. I question why anyone would buy the stock with a major shareholder having a financial mess. Chase alliance was one reason I didn't sell earlier. The lack of a documented story affecting the company was the other. Chase's tiff with Cassandra is an equivalent of them giving PDSE a strong sell. Sad, because the company was heading the right direction. Will watch where earnings come in next quarter. Probably red ink. Silence by the company on the whole mess certainly not going to help the stock either. I looked for the selling reason for a long time and only found it Friday after close. Some would have never posted the article before they sold their shares. SI members have alerted me to impending bad news on other stocks, so this is my return of the favor. We are all on the Paradise cruise ship, I see icebergs ahead. Good luck in your decision to stay.
Jack
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