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Technology Stocks : Open Text

OTEX 33.01

+0.5%

Nov 18 3:59 PM EST

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To: Urlman who wrote (164)	1/3/1997 3:21:00 PM
From: White Shoes	of 1195

Guys, I don't have any insight, honestly. My previous hunches have been totally borne out, however. Somebody took a stock that was trading at 8, found a way to buy a million shares at 7 and maybe accumulate another million around 7...you just have to think they aren't planning to sell at 6. A lot of institutional money was getting out last year...now I believe they will be getting in. Retail buying may be starting to kick in from the Globe and Mail story of Jan. 1, but it was obviously institutional buying that took us to 8. I just noticed on the intraday graph that there is an 'intraday gap up' of sorts in the price...just wild theory again but if the MM's played tricks to bring the price down to 7 last week then it would appear they are in the mood to play tricks to let it fly up at full speed now. I would hang onto your hats, it may be ready to run.

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