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Technology Stocks : Ocean Power (PWRE): Water/Power Giant in the making!
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To: W. Randy Gast who wrote (93)11/2/1998 1:21:00 AM
From: gene martineau  Read Replies (1) of 269
 
I'm not clear on what the offense is.... Stuff happens. A close business associate bought 150,000 shares in the 2-2.50 range. He's still holding and kicking himself over the lost leverage of today's prices.

This price drop was totally unexpected, and maybe 40-50% of it was a result of the funding delays - the rest was market factors. A TA trader friend will probably point out to me that the price was filling in the gap to the $.20 share price established with the earlier announced but unsuccessful financing.

I do have access on a fairly regular basis to BB. From time to time, I also cross reference his POV with the president of P&W group. This gives me a certain confidence about the background support for the project (read: political), which makes this more than your typical BB technology story.

Another POV of mine; the rapidity of restructuring that is occuring speaks about the concerns that larger outside interests have in getting this company off the ground - quickly. Not going to wait for any perminent damage to occur based on lack of funding (by the way, most start-ups experience significant delays in initial funding). This is a very positive sign.

As a matter of record, I'm looking to put together additional funds to buy shares at these prices (as much as I can). It looks like there is a floor here, although if another big block were to come available before another announcement, the price might break lower, but I doubt it.

One can grouse and growl or take advantage of the situation.

gm
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