Verity (VRTY) Message Board

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Technology Stocks : Verity (VRTY)

VRTY 2.400

0.0%

Dec 22 4:00 PM EST

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To: JACK SHOYKHET who wrote (301)	3/4/1997 8:39:00 PM
From: Alan Aronoff	of 1011

<<No bad news... Wait for the earnings...>> I think that a mutual fund dumping 200k shares days before an earnings report is bad news. I literally just started looking at the VRTY chart today for the first time and read the last couple of weeks of this thread. I've been interested in the company because I've read a number of VRTY press releases and have been impressed by all the contracts. I've never looked at a price or earnings estimates etc. In light of that, I just wanted to say that "the tape doesn't lie" IMHO As I'm sure everyone is aware VRTY has been very weak the past three weeks. Over the last two weeks volume has been increasing. VRTY has gone from $14 to $8+ (down 40%) in three weeks. Now this situation reminds me exactly of what I just went through with NUKO prior to earnings. Smart money were unwinding their positions over the last few weeks before NUKO earnings without trying to create too much panic selling by those who didn't have the inside scoop. A little heavier volume, a little more downward pressure. I guess with regard to the block traded today the money managers are being a little less subtle about their moves since its getting so close to the announcement. I'm a firm believer in NUKO and held most of my position all the way down.(mistake...because I now could own a lot more with the same amount of money) Needless to say, NUKO came out with a bad quarter but with future still bright. Accordingly there was the last gasp of selling and NUKO rebounded well off the intrady low and now seems poised to start trending back up on the next piece of good news. I see the same thing happening with VRTY. There was a great opportunity to buy NUKO at its cheapest late morning (1 hour to 2 hours after market open on earnings release.) The same thing happened with ANCR just a few weeks ago the day earnings were released. The only difference being that ANCR had preannounced a problem with an OEM customer so ANCR shareholders knew it would be a bad quarter but not how bad. Again, as with NUKO, ANCR announced a bad quarter but talked about how bright the future is and after intial panic selling on the open, ANCR has rebounded well off the low of that day. I believe VRTY will provide the same opprtunity. I'm looking to buy at the bottom of that panic. VRTY looks already way oversold. Once the bad news is out of the way, and "bright future" affirmation is made VRTY will rebound. A one or two point move at prices below $8 is obviously very significant. All of what I mentioned maybe won't come to pass but it reminds me so much of ANCR and NUKO... take a look at their charts and the days that they released earnings. And the tape doesn't lie...most of the time anyway <g>. All comments most welcome.

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