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Technology Stocks : General Magic
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To: Carbo who started this subject8/17/2000 10:57:28 AM
From: dgurgel  Read Replies (1) of 10081
 
Jury Still Out On IBM?

Interesting three days: Monday up strongly, Monday night 10-Q said agreement signed, Tuesday flat, Tuesday night press release on signing, Wednesday nice gain, Thursday a bit sluggish at the open on modest volume. The chart seems to love the 5 level and the closing price has crossed that line not less than fifteen times over the past five years.

The Raging Bull board seemed once again to be great at getting the news out. I guess it is best not to put too much faith in anyone's opinions (including of course mine) but a little jump on the news can be very valuable if you are about to trade.

I believe more information is needed on the IBM relationship, which was announced with little more fanfare than the Global Service Network deal. Discussions with IBM are likely to have started well before the hint, at the March 8 CC, of a "new strategic partner." (Laura confirmed that the IBM deal fulfilled the NSP promise.) The "contemplation" then has proceeded for nearly six months and some results or more definitive news should be expected shortly if this is a significant relationship. Until such confirming events or other non-IBM developments, I do not think we will see heavy betting on GMGC.

I traded GMGC actively again this week and cashed much of my GMGC holdings yesterday but will continue to be alert for first signs of significant success other than Onstar.
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