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Technology Stocks : PROGRAMMER'S PARADISE (PROG)
PROG 0.146+6.5%Jun 13 5:00 PM EST
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To: Zeev Hed who wrote (46)1/10/1999 1:30:00 AM
From: Arktic  Read Replies (2) of 2383
 
Zeev:

I'm awaiting word from my brother and will post (assuming he replies) upon receipt.

If I have read this thread correctly, there are only 5 million shares of PROG outstanding and 40% of those shares traded hands in one day on a very large percentage uptick in price. I'm not familiar with 40% of a company trading hands in one day except when there is a huge race for the backdoor in the face of dire news. Pardon me if my question seems naive, but if this stock is so great, why would 40% of the stock be sold in one day? Perhaps a lot of day traders were flipping the same stock a few times on Friday??? Anyway, I'd be interested in your thoughts about Friday's volume and what it means for the stock, Zeev.

Being old enough to recall the market in 1974, and gold in 1979, and oil in 1984... I have to admit that some of the "Internut" plays make me nervous. At the same time, huge returns have been enjoyed by early investors and I certainly wouldn't be one to argue with success. However, I know from experience that nothing ever goes up like Internet stocks have done recently without eventually leveling off or declining. But given that PROG actually has a profitable business and a small float, it warrants careful scrutiny.

Paul L. Craig
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