PSFT - 1997 Outlook [closed thread] Message Board

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Technology Stocks : PSFT - 1997 Outlook [closed thread]

PSFT 0.0001000

0.0%

Oct 29 5:00 PM EST

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To: Melissa McAuliffe who wrote (774)	1/26/1998 4:47:00 PM
From: Tom Smith	Read Replies (2) of 940

Folks, This type of thing used to happen like clockwork every quarter. Exactly one week before earnings release, PSFT would drop back to 20% off its 52-week high. The first two or three times I saw this I chalked it up as a coincidence. The next time, I bought a good sized chunck of PSFT on the 20% dip and did very well after earnings. The pattern seemed to disappear the last few quarters, with unpredictable movement both before and after earnings, but this recent movement is very similar to the old pattern -- 52-week high = 39.50 20% discount = 31.60 Today's close = 31.44 My hunch is that nerves get the better of some people right before earnings and the weak holders sell. Good earnings bring them back a week later. Tom

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