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Technology Stocks : Cascade Communications (CSCC)
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To: AL TOTH who wrote (2360)2/22/1997 3:56:00 PM
From: Dwight E. Karlsen   of 3743
 
Thanks Much, Al. All the points you made have been pretty much what I have thought.

Re: >8.Regarding the large drop in stock price--The stock was propped up to a very high figure by momentum investors who owned alot of CSCC stock.<

Exactly so. I held the stock for a couple of weeks last Oct, but bailed because I just wasn't comfortable with inflated price (thank goodness). The momentum investors have temporarily ruined more good stocks than I care to list. Unfortunately, the effects of this will be felt over the next year, IMO. An example of how momentum investors can ruin a good stock (ie, vulnerable to extreme volatility and irrational selling) is USRX. The "big MO" investors drove USRX to 105 last May, and the stock has acted like a deranged puppy ever since.

Also, those same momentum investors will come back after the stock has undergone much pain and finally criticise people for buying it.

Doh..

DK
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