Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: Jibacoa who wrote (6542)	8/23/2000 4:24:58 PM
From: James Strauss	Read Replies (3) of 13094

Bernard: The NDX had a 136 point swing from bottom to close... bigcharts.com This type of reversal pattern is very bullish with or without the volume... CRDS looks ripe to break out... bigcharts.com I see tests in the 20.00 and 30.00 areas... But, it still has this lawsuit hanging over its head... Crossroads Systems, Inc. (Nasdaq:CRDS): Class Period: June 2, 2000 and July 26, 2000: The complaint alleges that during the Class Period, defendants knew, but did not disclose to investors, that the Company was experiencing severe problems with its interoperable Fibre Channel storage routers. These problems had gotten so bad that by mid-July the Company was forced to cease shipment of the routers. On July 27, 2000, the Company disclosed that its revenues would decline from the previous quarter's revenues by 66% due to the halt in the shipment of the routers and the cancellation of a large order at the end of the quarter. When the truth about the Company's business was finally revealed to investors on July 27, 2000, the price of Crossroads common stock lost more than 50% of its value in one day, falling to $6 3/8 per share. The complaint alleges that as a result of Crossroads' misrepresentations and omissions, the price of Crossroads' stock was artificially inflated during the Class Period, and investors who bought the stock were damaged thereby. The action seeks to recover for investors the amount they overpaid for their common stock during the Class Period. Jim

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