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Technology Stocks : JDA Software
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To: Bert Zed who wrote (139)8/3/1998 4:40:00 PM
From: Andrew  Read Replies (2) of 371
 
Today, Monday Aug. 03, is the 2nd day the stock has been trading since it announced earnings (last Thursday after the close of market). It has fallen from 26 to 16 because of downgrades. Now most of downgrades have resulted from reduction of earnings estimates, but by only 3 cents for 1998. Does 3 cent decline in expected earnings justify a drop of 10 points or 38.5% in the stock price? I don't think so. I just bought myself another 1100 shares today at 16 3/4. This is on top of my 2000 shares at 18 7/8. I am getting creamed here. May have to meet margin calls in 3 days, but I really think the stock has bottomed out. Notice that the selling volume was much more than the buying volume today. The market fell almost 97 points and the stock did not close below 16. Hopefully tomorrow will be a better day for this battered stock.
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