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Technology Stocks : ACTM $100 Million Cable Modem Contract with MOT -- Ignore unavailable to you. Want to Upgrade?

To: joemjo who wrote (1088)	9/10/1999 5:15:00 PM
From: Rob Preuss	Read Replies (1) \| Respond to of 1250

What a weird day!?? We started out with a bang and ended with a whimper. At the open, we shot up to 24+11/16 on good trading volume. We hung on to most of those gains, with continuing good trading volume, throughout the day. Then, on weak volume during the last 20 minutes of trading, the bottom fell out and we dropped to close down 1 at 22+3/8. I thought the strong open was primarily due to the good news on core inflation released before the market opened. That we should fall off this peak a little, but still remain up (about 1/2 to 3/4) on solid trading volume, for most of the day was unsurprising... we needed to consolidate the gains of yesterday and early this morning. But the end-of-the-day drop was a huge surprise (to me)... still, because the drop was on light volume, my guess is that there will be an upward correction (back to the 23-24 range) on Monday morning. I've heard various price targets for ACTM that are in the high 20's (say about $26-$30/sh) and its my guess that it won't be too long before we get there. I feel there's still some nervousness in the investment community about ACTM and some people may be waiting to see the results of the first full quarter following the acquisition of CMCI... once those results are reported in October (assuming there are no untoward surprises), I think we should be able to move into the high 20's. I haven't put together a detailed chart of the past (and predicted) numbers for the combined company... as I had done for ACT before the acquisition... but I hope to do so after we get the financial results for this quarter. Rob