Pete:
My own thinking is that this stock has seen a lot of tax selling upto and including today. Many investors with nice gains, have been looking at which losers they can sell to offset those gains. I know that, this has been a preoccupation with friends of mine. So you look to find stocks like Ascend, Fore, Coms etc., so you can take a capital loss in 1997. This is now over. Few investors are going to worry about taking losses at the start of the tax year, so my guesss is that buying will come in and, with a tail off in selling, the price should firm up. But, the thing that would really move this stock is, increased earnings and a restoration of confidence. A buyout make come but, it is not a reason to buy the stock IMHO. Making, or exceeding earnings with a good forward looking conference call would definately help the longs.
Regards and Happy New Year,
ray |
