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Strategies & Market Trends : Charts With An Attitude; Trading In & Out

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To: OldHack who wrote (4274)	12/9/1997 5:53:00 PM
From: Dave H	Read Replies (1) of 4701

from cbs.marketwatch.com: In earnings news, Oracle plunged 9 3/8 to 23 on a whopping 172 million shares, the biggest single-day volume total for any issue in Nasdaq history. Late Monday the database software developer said it netted 19 cents a share in its fiscal second quarter, 4 cents beneath most analysts' estimates. The disappointing showing was due in large part to softening sales in Asia and negative foreign currency translations due to the stronger dollar. Morgan Stanley Dean Witter and Lehman Brothers slashed their ratings to "neutral" from "strong buy." ...biggest volume in NASDAQ history for a single issue...WOW! I'd say that "overreaction" fits here -- ORACLE still turned a nice profit, didnt they? I wonder how many short sellers are on board now -dave

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