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Technology Stocks : ZENITH ELECTRONICS
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To: rd greer who wrote ()5/7/1996 11:01:00 PM
From: Mike Iannamico   of 578
 
I think we are all a bit naive if we don't see that the stock is being manipulated in a systematic way. First you have the big buy at the beginning of the trade always two points above closing. Then you have the strange happenings on Monday morning when most of the tickers showed no trading for the first fifteen minutes then jumped up 3 points and a couple of million shares when the numbers finally became available. On Monday close, their was a two point run up at the end of the session and most quote servers were showing 20.4 and were later changed to reflect the recalculated 22.8 figure. This morning, same delay, where someone was waiting to buy at 26 for about 4000 shares and when the real numbers appeared after fifteen minutes, the bottom fell out. So, unless you were in the in-crowd, you could not have sold at 22.8 on Monday since it happened so near the close, and you could not sell at 26 today since it began falling so quickly. I am not a seasoned investor and I guess all of this manipulation goes with the teritory, but according to today's Wall Street article, this stock is worth about 20-25 and maybe even 30 and that is without the current Internet mania buyers. I am amazed how quickly the mood has changed with regard to the hopeful prospects for Zenith but I suspect some of you have taken profits and are hoping to influence others to sell so you can buy more at bargain basement prices.
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