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Technology Stocks : Loral Space & Communications
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To: Valueman who wrote (5618)3/27/1999 10:22:00 PM
From: defendall  Read Replies (1) of 10852
 
Valueman,your point #7 stated talk about Fidelity lowering or exiting their position.Do you have any more information on this? Since the beginning of February someone has been exiting and I'm sure it's a major institution because of the manor in which it's being accomplished.
Major brokerage houses always want to remain in good standing with their accounts ( in this case Loral ) in order to be included in future offerings. Underwriting these positions is a major source of revenue. If however when they exit out of a position ( stock holding ) for reasons other than a negative announcement that would effect all holders they try not to trash the stock by breaking down key support levels causing the technicians to unload further hurting the stock.
There has been a major outflow of funds selling into any rally Loral stock has made.This also was pre-arranged with the understanding that another party would step in at key support levels and buy blocks of 400,000 shares.In February this continued for several weeks only the seller had a little more to sell than the buyer wanted and the stock is having a problem with the final overhang.
I suspect by quarters end this will be accomplished.Any information you have would be greatly appreciated.
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