JANUARY 1997/BEST OPTION PURCHASE Message Board

STOCKTALK

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Strategies & Market Trends : JANUARY 1997/BEST OPTION PURCHASE

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To: Hari Agrawal who wrote (33)	12/25/1996 11:33:00 PM
From: Larry Abrams	of 84

CS went down 4 points Monday, only because it went up 5 points the week before. You see CS always makes its number... often through skillfull "backlog management." All long term followers of the stock, like me, know this. Efficient market theory say that a stock that has a long, long track record of EXACTLY making its numbers, should not rise 14%( 5 points) in a single week before an announcement. There was some market manipulation going on here...Merill Lynch probably??..creating a buildup..planning on unloading an announcement. I have learned (painfully) that it rare indeed that a stock will have a big earning suprise (up or down) on the day of announcement. The more likely pattern in this late bull market is that they EXACTLY, and I mean EXACTLY, hit the number, but there has been 10-15% rise in the stock the week before, and a 10-15% sell-off the day of announcement. Witness COMS two weeks ago, and CS last week.

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