Spectrian Co. (SPCT) Message Board

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Technology Stocks : Spectrian Co. (SPCT)

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To: James Knight who wrote (462)	10/30/1997 5:12:00 PM
From: Sonny Blue	Read Replies (2) of 738

Message from James Knight on Oct 21 1997 3:22PM EST << 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. >> James, I hope you now change your mind about my "price action" theory? I bet that the institution stockholders had found out about Spectrian losing out orders from Nortel the week the price dropped from 65 to 50. This news traveled slowly, from one trader to the next. So the price kept heading lower weekly. Later, Smith Barney even gave SPCT an upgrade so their clients could get out at a decent price. Of course, on Oct 23, Spectrian exceeded the earning estimate but that was old news. The market is always looking forward, and if you & I trade stocks on the yesterday news, we are doomed to fail miserably... For an up-to-date example of "price action" theory, please watch DELL stock, this one will go down as bad as SPCT.

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