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Technology Stocks : Audio and Radio on the Internet- NAVR
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To: Jack Zahran who wrote (106)7/9/1998 9:45:00 PM
From: simarx  Read Replies (2) of 27722
 
-->How is it that you can tell that MM's were shorting in the 10's?

Experience. They pulled it really fast and the stock simply does not have the substance to it. What is most dangerous are two events that I discovered today:

1. The June 30 S-3 filing states the 16 Mil shares were registered for sale. Quick calculations show that most of those shares cost 2.70. Real cheap. Bad for bottom support.

2. CNBC stated that NAVR will be making another offering and because of this the company is in a quiet period.

Now if you were holding 16 Mil commons and you learned that the NAVR was going to further dilute the stock, what would you do. The company can care less about the Investors at this point, they already got their money. They know they are fighting for their lifes. Today's hype gaurenteed the new offering price that they were negotiating, but it will not be at 7. More likely at a discount to 4-4 1/2. How many shares, well enough to cover their sizable debt.

Write me if you have any questions or need help, simarx@yahoo.com

So were is the bottom for this stock. Right know it's hard to tell. At the end of day volume was disappearing and then the sellers came on driving the price down hard.
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