SIEB Siebert Financial Brokerage Message Board

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Technology Stocks : SIEB Siebert Financial Brokerage

SIEB 2.740

-1.8%

Nov 3 3:59 PM EST

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To: Sun Tzu who wrote (214)	4/8/1999 5:19:00 PM
From: Gutterball	Read Replies (1) of 284

You have an interesting analysis, however, I've resolved never to own this stock above $30 again. While a breakout appears underway, I imagine it will not last past tomorrow. On the run up to $70/shr, there were 600K shrs oust. That run brought on insider selling. At present, I estimate there is just over 1 million shrs in the float. Considering Muriel waived here dividend, this suggests she has decided to take her profits in the form of capital gains, so I expect we will see some 144's come out of this run which may keep SIEB from hitting a new high. Considering today's volume was over 3.3 million, we churned the float about 3 times. Thus, I'm not sure where anybody is any more -- I mean short or long. The interday chart suggests there was some shorting early in the day but I didn't see anything to suggest there was heavy shorting after the open. Thus the shorts may be waiting for higher highs as you suggest. Playing SIEB at this level is above my skill level, so I'll just watch it play out and who knows, maybe call the play-by-play.

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