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Technology Stocks : Open Text

OTEX 38.03

+2.2%

3:59 PM EST

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To: make.it.co who wrote (891)	7/6/1998 3:25:00 PM
From: White Shoes	Read Replies (4) of 1195

All of the trading on the TSE today has had one seller, "Deacon". Pretty thin trading, small trades but all sells Deacon. I wonder what this means, or if it will continue. I like the company at these prices, either it is too low due to the actions of one seller or that seller knows something! I think the street just feels this is overvalued with the number of shares out and is waiting for it to reach a new level. Boy that must be frustrating for whoever financed them at $21 (U.S.), so I wouldn't expect them to let it drop much lower than it is now, unless a calamity is in store and I doubt that, their revenues are booked pretty well in advance so there should be no momentous surprises. Normally the NASDAQ spreads are criminal but just look at that criminal spread on the TSE, $19.50 (Cdn) - $20.25. Yeah like I'm going to pay the ask in that situation. Edit-someone just upped the ante to $19.60. C'mon Deacon now's your chance!

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