I agree. Buy on the bad news, and sell on the good news.
That was old economy thinking...these days its buy,buy, and buy more.
Btw
The hottest stocks around today are growth companies that are reducing losses.
As soon as they make a profit...sell them!
Ps
This good news did not stop Avnt from falling again today.
>
San Jose, California, April 28 (Bloomberg) -- Avant! Corp. rose 42 percent as a state judge dismissed a criminal indictment against the software maker arising from a theft-of-trade-secrets dispute with Cadence Design Systems Inc.
Avant! shares rose 5 5/16 to 18. The company, Chief Executive Gerald Hsu and others had been indicted in 1998 by a state grand jury on charges of conspiring to steal trade secrets and securities fraud. Today, Santa Clara Superior Court Judge Kevin Murphy threw out the indictment on procedural grounds.
Cadence, the leading maker of software used to design semiconductors, has accused Avant! of producing its Aquarius software with stolen computer code. Cadence's civil suit against Fremont, California-based Avant!, pending in U.S. District Court in San Jose, had been stayed until the outcome of the criminal case.
``We are appealing the ruling,'' said Santa Clara County Deputy District Attorney Julius Finkelstein, who added that his office has the right to seek a new indictment. ``So in a sense, it's a temporary setback.''
The judge dismissed the indictment today in response to allegations by Avant! that the district attorney's office had instructed court reporters not to record certain proceedings before the grand jury, said Avant! spokesman Clayton Parker.
The failure to transcribe those proceedings kept Avant from examining a complete record of the case and challenging the indictment, he added.
Under the 1998 indictment, Hsu, the former Avant! Chief Executive Mike Tsai, and five other current or former executives each faced a maximum 12 years and four months in prison and $27 million in fines and penalties.
The same judge dismissed charges against an eighth executive last year. The district attorney's office is appealing that decision, Finkelstein said.
Shares of Cadence, based in San Jose, California, fell 1/8 to 16 13/16.
Apr/28/2000 19:32 |
