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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: Lennart Steiner who wrote (4608)	7/17/1999 10:45:00 PM
From: Curtis Gruber	Read Replies (1) \| Respond to of 5650

Hard to know, lots of guesses people have as to why the drop, although not very much. PSIX was trading up close to 65 i believe as we went into the closing hour. Then it was only up 7/8 and then within 20 min or so we were down 7/8 right at the closing bell. I expected PSIX to double the offering but didn't expect so much demand that they'd have to triple it. Wow! I think a bit of a pullback is healthy because of course it won't go up forever, I am just surprised that we didn't pull back more. I would not have been surprised to see us around $55-57 on thursday or friday. Esp. going into the weekend. We have nearly doubled our market cap/stock price in a months time. PSIX volume is surging day after day. Not sure what to make of it, I have never seen the stock behave like this. So while I expected a sharper pullback as we neared weeks end, I'm happy to see it so slight, if that. regards, cg

To: Lennart Steiner who wrote (4608)	8/7/1999 1:47:00 PM
From: Curtis Gruber	Read Replies (1) \| Respond to of 5650

Lennart, seeing that the bond offering was 3 weeks ago, it is old news, relatively speaking. Yesterdays drop from its' intraday high could be attributed to many things, but one probable reason is we are still in a very volatile market, with most people expecting an interest rate hike, (2)it is a friday and after this crazy week, many don't want to hold over the weekend(3)PSIX went from 35 to nearly 48 in less than 2 trading days, so there is bound to be profit taking, and (4) with the increase in volume you see day traders step in to take advantage of the swings. Have a good weekend, cg P.S. David, thanks for the reply, it did help.