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Technology Stocks : Nortel Networks (NT)
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To: Paul Shread who wrote (706)9/14/1998 12:15:00 PM
From: Paul Fine  Read Replies (2) of 14638
 
Re the previous two posts, I do not believe we can lay the recent negative action by NT stock at the door of "market conditions". As I stated last night, NT is down the past two days in the face of major positive action by the market, including techs. Someone(and maybe it is a ML seller) either knows something or thinks they know something about this quarter, and maybe next. There is pressure to sell into any strength(stock gapped up both Fri and today, but immediately moved lower) and there is heavy volume(double normal on Fri and already at average daily volume at 11am CDT today).

I have e-mails into IR at both NT and Bay looking for some explanation re this quarters expected perf, and a cutoff date for warnings before the "quiet period". If I learn anything I will post it here. As an aside, although I bought more NT last week myself, I caution anyone to avoid bottomfishing right now unless you can emotionally handle another 15-20% drop; this action(justified or not) is company-specific, not market-driven, IMO.

Paul
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