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Technology Stocks : Spectrian Co. (SPCT)
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To: James Knight who wrote (462)10/21/1997 4:32:00 PM
From: Pr-Ac Man  Read Replies (1) of 738
 
<<< How could the price action tell you that the earnings are going to be bad when the company said it was comfortable with estimates? According to your logic IBM and Microsoft should have had bad earnings. The price action was down. People are just scared. I say hogwash to price action. >>>

Preach it, Brother! I'm a strong believer in reading the Price/Action of a stock, but in this case I think you're right on. People have been watching this stock go haywire over the last couple weeks (largely due to misinformation which was refuted directly by the company), and they are scared. I think day traders and short sellers are taking advantage of this situation, which is creating tremendous volatility. And after all the movement and volume of today's trading, it was a wash. It's too bad, as a lot of loyal investor's are losing a lot of money because they are confused and making impulsive decisions.

It may be that bad news is coming, but it is just as likely that good news lies ahead (probably more likely, given the statements of company representatives). For every example I find of pre-earning's price action indicating the news, I can find another where it was wrong. The problem is that "insider information" can be right or wrong. Depends on its source, and what they are trying to do to the stock price.
Scott
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