>> too many stocks have been dropping precipitously prior to earnings only to shoot up after
Guys, in case any of you doubt this, let me show you Asyst's price quotes for the last 4 days:
10/16/97 444,200 36 5/8 34 34 5/16
10/17/97 1,219,700 33 7/8 27 1/8 29
10/20/97 1,486,700 32 1/4 28 5/8 31 3/8
10/21/97 1,441,000 35 1/2 32 1/4 35 1/4
It had an excellent earnings report today and was up to 38 1/2, although I think it closed a little lower (I got out at 38 -- 8^) -- and stopped watching it). Moral: the whisper numbers can be wrong and a stock tank two or three days before earnings can be just plug wrong. We will indeed know tomorrow evening, and there's just no second guessing it on stock price movement.
The conference call, by the way, will be syndicated on daytime tv under the name "The Coherent Light". |
