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Technology Stocks : CNQR - Concur Technologies -- Ignore unavailable to you. Want to Upgrade?

To: BC who wrote (135)	11/17/1999 10:46:00 AM
From: Lane Hall-Witt	Read Replies (1) \| Respond to of 374

Looks like good ol' fashioned panic to me. There weren't any buyers first thing this morning, so the MMs had the freedom to drop the price 3+ on less than 200,000 shares. From there, the selling snowballed. I wouldn't venture to guess what the exact catalyst was. The "news" this morning probably disappointed traders, who have been expecting blockbuster news and only got word of this reorganization and executive appointments. A more serious potential problem would be a poor performance at Monday's Hambrecht & Quist conference; I haven't heard any news on CNQR's presentation there, so I don't know if that really is a factor in today's action. I'm planning to continue holding the stock at least through the upcoming announcement of the Concur Commerce Network -- although I must admit that today makes me feel like a fool for deciding not to trade this thing. (My feeling was that we'd get a retracement off the high to about 25-26 and that the stock could move dramatically on significant news, so there was more risk being out of the stock than in it. I have poor touch as a market timer -- although I obviously wish I would have given it a shot this time.) Good luck to you!