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Technology Stocks : IDTI - an IC Play on Growth Markets
IDTI 48.990.0%Mar 29 5:00 PM EST
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To: Medisco who wrote (8071)4/28/1998 1:36:00 AM
From: Rob S.  Read Replies (2) of 11555
 
Thanks, that's a date worth remembering. Depending on the circumstances surrounding it and new information that may come out or get clarified, this can have some effect on the stock price.

I am thinking that we might get similar market action, as has occured during the last couple of sharp declines. Following a day or two of sharp declines, the market sells off (blows off) further in the morning. Many stocks that have shown weakness, not particularly IDTI, get absolutely clobbered in the morning but then quickly come back as bargain hunters rush in to fill the void. This happened during last falls big sell-off. While the analysts and institutions remained nervous, the individual investor was unruffled and took the opportunity to load up. That "may" happen again. What works for it is that although the market was getting pretty high and some "correction" was probably eminent, flows of cash into equity mutual funds, retirement programs, etc. remain at high levels. Something that works against an "irrational" blow off in which stocks quickly sell at distress prices is that a lot of institutions and fund managers are aware of their past mistake (selling in panic at what turned out to be the bottom) and that works against it being repeated.

I plan to have some low-ball orders in for a few clobbered stocks that have good mid to long term outlooks. If I catch a few in a panic sell-off, then great. This is not without a fair amount of risk because the mid-term market trend could well be toward the downside. So I will be prepared to turn the stocks if they move up too much or fail to move up at all. Don't risk too much if you try this.
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