Harmonic Lightwaves (HLIT) Message Board

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Technology Stocks : Harmonic Lightwaves (HLIT)

HLIT 8.870

+0.3%

12:29 PM EST

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To: Marc Wester who wrote (917)	5/21/1997 6:19:00 PM
From: Dennis G.	of 4134

Marc, thanks for your reply. I am certainly familiar with these swings. I have averaged down before on this stock and my average cost is 15 1/2. I am planning on adding more on further weakness or maybe selling naked puts. My point was simply that this is a deliberate attack on the stock by a small number of traders. Total volume for the last three days has only been about 1 million, which really means only 0.5 million shares changing hands. And this assumes no multiple trades. This is less than 5% of the total float. Yet they've managed to chop the market cap by 25%. As perverse as it sounds, it's quite an impressive feat. And they're not done yet. The way it's going, we might see 12 by Friday. I guess I'm just not yet familiar enough with this type of manipulation to be unimpressed (and obviously annoyed) by it. But I will try to gain some advantage from it, if I am smart enough to know when.

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