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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS
VIA 30.48-1.2%Dec 26 9:30 AM EST
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To: TTOSBT who wrote (3259)1/27/1999 7:36:00 AM
From: John M Connolly  Read Replies (3) of 4613
 
TTOSBT:No point in getting frustrated this will soon pass. From a post on Yahoo I copied the following which may help to explain. That
Yahoo thread must be where the Haight Ashbury crowd hang out.
Anyway here is the post,
m a WX veteran of over 30 years financial experience and very familiar with the
company stock plan portfolios and selling patterns of the aging WX employees,
retirees, and executives. (including stock plans, 401Ks, options, etc.)
The reason CBS (WX) has difficulty breaking out above 37 is that a substantial
number of shares (millions) have been sold by these folks in the 34-36 range which
is close to the all-time high for the former WX. CBS is about to bresk out of it's
current tradiing range, as this supply of stock is now just about exhausted and will
no longer be much of a factor after Jan. 1999.
My indications support a trading range between $41-45 over the next 3 to 6
months, even without one of the many unsubstatiated rumors posted here coming
to pass.
(You can review the recent trend (over the past year or so) of CBS moving
counter to the market which provides indications of stock being unloaded from
within company investment plans.)

Posted: Jan 26 1999

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