Concentric Network Corporation (CNCX) Message Board

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Technology Stocks : Concentric Network Corporation (CNCX)

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To: Tekktrader who wrote (106)	4/13/1998 4:08:00 PM
From: Gokhan Gezmisoglu	Read Replies (1) of 377

23 1/8?? Today's low! Unbelievable. Right before noon (as always) at very light volume, market makers ran the stock down 2 points to 23 1/8 to cover their shorts and picked up stops on the way. Individual investors with stops get screwed again. This is the 3rd time in the last 5 trading days stock tanks briefly for picking up stops. Well, hopefully this was the last of these run downs. We do not have any stops left between 25 and 23 (if none is entered tonight) and maybe this thing can start moving in the right direction again. Earnings this week should help but there are some pissed off people who got in at 25-30 range who are looking to bail out so I would expect a "sell on the news" frenzy after earnings. If not enough buying pressure after earnings announcement, we will trade in this 24-26 range for a while or drift lower. I am still long CNCX and bullish (very bullish actually) on the company but to get back to 30 might take some time. Well, I hope I am wrong. regards, Gokhan

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