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Strategies & Market Trends : Rande Is . . . HOME
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To: dan6 who wrote (27429)6/9/2000 12:13:00 PM
From: Tradelite   of 57584
 
CTXS....interesting study in how long it takes the little retail investor to find out what the smart money folks apparently knew a long time ago.

I keep several weeks of IBD issues before throwing them away. This a.m. I checked back into May issues to see what's been happening with CTXS...here's what I found.

A number of major mutual funds reported they sold off CTXS in the last quarter. The stock has also had an IBD accumulation/distribution rating of D or E (meaning the funds are bailing out) for at least the past several weeks.

During the last few weeks' market rally, the funds apparently have continued to sell into strength, because distribution has been high even as the price of the stock continued going up.

IBD explains frequently that those net accum/distrib ratings are influenced largely by institutional activity.

This could mean, to my untrained eye, that the majority of money left in the stock belongs to little retail investors, and to those funds which have yet to finish unwinding their positions and probably got blindsided by yesterday's well-publicized broker downgrade and the resulting downdraft.

And of course, the broker downgrades on the stock are only coming NOW, long after the most of the big guys already had their chance to get out.

Wicked.
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