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Technology Stocks : Qwest Communications (Q) (formerly QWST)
Q 75.80+1.2%Nov 21 9:30 AM EST

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To: Howard Hoffman who wrote (1054)4/1/1998 2:17:00 AM
From: Phil Jacobson  Read Replies (1) of 6846
 
Is there any way for you to tell how long the imbalance has existed, ie, did it just arise or is it a few days old? A week? A month or more?

On the surface it's definitely indicative of expectations of a correction. I've never looked at QWST options before so I can't put this into any context though. QWST has always been perceived as one of the most "overvalued" stocks out there so has always generated a lot of negative speculation just on that basis alone.

It could also be related to the Lehman downgrade of the CLECs (the guy at Lehman is a beancounter and was attacked immediately by Bear Stearn and Merrill Lynch). Then again, remember what happened when that analyst did the BW write-up that caused a large correction? If the imbalance just appeared it could be a pending downgrade.

Phil
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