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Strategies & Market Trends : Lizard King's Trading Swamp
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To: LzzrdKing who wrote (1997)10/11/1997 4:14:00 AM
From: R. Bond   of 7396
 
Re MLHR >>Something is weird, not sure what.<<

I had to get out of a sizable position that had built up over the 4 weeks before earnings shortly after the release. I watched the selling begin about a week before earnings with daily intermittent 10K lots. Then the party started the morning after the release. If this weren't October, I might start to think that the trend has changed. If it has not, watch for a possible pop (see YTD chart). MLHR has sold off in the vicinity of earnings for the past 2 quarters. It eventually made new highs but it may take several weeks, too. With a rate rise on the cards, who knows.

I did speak to the IR at the company a couple of days before earnings and asked about the selling. Just got the old positive response. I don't think it's being dumped on upcoming news. Will it remain in favor? Hope so. The heavy selling did not materialize to give a big hit on Friday. Volume still very high compared to the usual 180-220K before earnings.

Cheers,
Bond
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