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Technology Stocks : Hall Kinion (Haki) contracting agency
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To: E. Graphs who wrote (19)6/23/1998 11:50:00 PM
From: James Harold Alton  Read Replies (1) of 26
 
E. Graphs, A very good move pulling the rip cord at $14+ on this one. From where we are sitting now, the stock would have to go negative to drop as much as it has already from just $14 (G). I am curious about your statement that you are staying far away from this stock now, is that based on a technical or a fundamental perspective? I have been doing quite a bit of digging in trying to find fundamental problems with the company to justify the free fall the stock has seen and so far have not been able to find any. Buying right now is like trying to catch a falling knife, but on the other hand I think that when we do bounce, it could be significant enough to warrant having some shares at these levels. The trading log on HAKI got really ugly this afternoon after having been looking fairly positive. There are obviously still some fairly large positions being moved, but on the other hand there are some fairly large buyers out there as well it appears. The amazing thing to me, is that with only 9.4 million shares out and the co-founders of the company owning 57% of that is the volume we have been seeing. At this rate, most of the float will have been rolled over into new hands before long. I will bet that the float has been artificially increased via shorting quite a bit over the last week, those fellas might have a rude awakening when they all start trying to cover with this thin float..will be interesting to watch and see what transpires.

James
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