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Technology Stocks : Softbank Group Corp

SFTBY 74.64

+3.1%

3:58 PM EST

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To: michelda who wrote (4336)	3/9/2000 8:00:00 PM
From: TobagoJack	Read Replies (3) of 6020

There is method to your madness. My very clever friend on the beach has the following comments on Softbank. This be the same clever friend that helped me side step HK's melt down and recover from Thailand's misadventure. QUOTE No need to despair - things always get funky around March 31st in Japan - in the old days it was always curious to watch the insurance companies try to hold the yen within a certain average range for the last two months of the fiscal year (otherwise if it dropped 10% below the year's average then they would have to mark their securities-both foreign equities and UST bond holdings to market thus causing some major blood). In this case, it merely appears that there are very few securities which have made money this year in Japan and they need to take profits to alleviate other losses. You watch - after March 31st there will be some quick price target upgrades by the broker ( actually the buying usually starts as soon as the settlement date falls over March 31- believe it is T+3 so probably around March 29) So barring a US meltdown, get set to add. Also please note : as we rose quickly in January and February there were two large gaps created in the closing prices - approximately 105-115 and 125-130. According to some technical analysis (especially Japanese candle charts) - you must fill these gaps and hold those levels in order to continue higher on a long term basis. So this is a Japanese stock and the biggest holders are Japanese institutions and I know they heavily rely on technicals. So...the next tranche to buy comes one to two days after we close around 105-106,000 and see that level hold and start upwards again, bearing in mind the March 31 year end selling pressure. If it doesn't hold it breaks down 85-90,000 !! UNQUOTE

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