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Technology Stocks : Aeroflex (ARX)
ARX 12.62+4.7%Nov 7 9:30 AM EST
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To: Harry Ehrlich who wrote (397)3/11/1998 7:11:00 PM
From: Kerry Lee  Read Replies (2) of 586
 
Refer to the following excerpts from my previous post #394:

<<3. Look at the recent stock price performance of recent secondary offerings, eg. SEEK,
AMCC. It is interesting that it didn't take long for these stocks to head UP shortly after
the announcements.

4. This is the Wall St games the pros play...BUY some analyst coverage via
underwriting fees, sell the stock to Institutions for $9-11, then make everyone look good
by making a series of announcements after the institutions have bought in,
reiterate/strengthen some Strong BUY ratings, then tell their retail salesforces to flog it
to John Q Public Retail investor to bid it up later to $12-15.This is just an example of how
Wall St works and not necessarily what I predict will happen going forward with ARX.>>

The stock action tells me that the follow-on stock offering is being extremely well received..perhaps even oversubscribed??? Today we closed at slightly above the previous all-time high of 12 1/2 which appeared to be technical/psychological resistance.My gut feel is that if today's combination of above average volume and upward price movement didn't qualify as a technical break-out, we are on the verge of one. Having LU as a major customer is probably a sexy story on Wall Street which is helping to sell the secondary. Any TA experts out there care to share your own analysis???
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