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Technology Stocks : 724 Solutions (NASD: SVNX, TSE:SVN)
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To: neverenough who wrote (268)7/15/2000 8:36:36 AM
From: KM  Read Replies (1) of 337
 
Hi. I like this stock too and have traded it a lot. What's happening here reminds me of the ISLD lockup awhile back which took that stock down to the 15s and which turned out to be one hell of a buying opportunity (I got in in the 18s and had to take a little pain but what a turnaround). This is being heavily, heavily shorted right now. I'm scaling in a position very slowly and in small amounts and expect a similar rebound to that of ISLD after the lockup expires.

BTW, read a chat with JJC of theStreet.com Thursday or Wednesday of last week. Someone asked him about this and he made a positive comment about it being a good long term play on the internet.

If you follow Don Sew, he has a class 1 sell on the Nasdaq. If that follows through at the confluence of the lockup expiration, there should be a no-brainer price to pick up some more of this. These lockup expirations are really awful while they're being anticipated but when the companies are high quality, it's just a great chance to make some pretty easy money. I think Sycamore had one recently which took the stock down to about 100 and look at that rebound.

FWIW.

P.S. First Boston (FBCO) supports this stock pretty well during the day. That is one firm I hate to have short my stock and I consider it a bonus when they like something and support it (I know they were the underwriters). Another situation I was in with them in a similar position was WFII, which languished a long time with a strong buy from FBCO. Then suddenly, it took off and put on 5xxx. I think this will too at some point. I have also noticed several new market makers in the past ten days or so which tells me that possibly there will be new initiations of coverage.

I have a thing for bottom fishing as opposed to chasing stuff already up 30% in a day. It's worked well for me - caught a load of CMGI Tuesday afternoon prior to the Yahoo earnings and that has worked out nicely. I smell a similar to better opportunity here.
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