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Technology Stocks : Gemstar Intl (GMST)
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To: Dr. Id who wrote (2710)4/11/2000 4:25:00 PM
From: RocketMan  Read Replies (2) of 6516
 
I agree with what you say. However, I don't see the selloff in gmst to be of the same nature that we have seen in other tech leaders. Granted, this is not the same as a csco or msft, but it is a naz 100 stock with large insitutional interest, so we should not expect it to trade like a penny or like a no-earnings internut. What I find a bit disconcerting is that it sells into naz weakness, and does not rebound until just ahead of the next naz weakness, when it sells off even more. To me this appears to be someone wanting to sell a large position and using the market weakness as smoke. I may be wrong, and hope I am, but maybe there is more to this story than we know.

edit: here is today's gmst vs iatv chart, showing that today's 15% selloff was not sector-driven

quicken.com
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