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Technology Stocks : CDRD (CD Radio)
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To: BARRY ALLEN who wrote (444)12/2/1997 10:43:00 PM
From: Dale Baker  Read Replies (1) of 904
 
The "pump and dump" refers to the 50K+ shares which bought at the close on Monday, and the big volume runup a week or two before that. It's like pushing a car with a stick shift to goose it to start. If the car won't start on its own, it slows down as soon as everyone stops pushing. CDRD looks like it has a flat battery. I know that you just placed a small bet on whether it would get going or not.

Tuesday my stop was at 19, my break even point. Wednesday I'll move it down a bit to lock in a small profit.

CS and Greg, I just started fooling with TA and I'm not studying candlesticks, just because I haven't reached that chapter yet (two more books came from Amazon yesterday). So far I have found that MACD and Stochastics are giving me good signals on timing. For example, MACD would have indicated the latest short back around 24. So far it is not signaling any reversals, just weak attempts.

But step back and look at the wider market. The NASDAQ was down 24 when tech stocks - even value tech stocks - were hammered. It's tax-loss selling season and CDRD was recently pushed to affluent ML/Lehman clients who will probably tell their broker to sell all their dogs in the next couple of weeks. CDRD has proved only that they can sell junk bonds and stocks and order satellites on credit.

Why should anyone hold except for the long-term faithful? Why not sell and rebuy at 10 if you think CDRD will be the next CNN?

Just some thoughts very early in the morning here in Mauritius.
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