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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: 16yearcycle who wrote (3307)	11/25/1999 4:01:00 PM
From: PDL	Read Replies (1) \| Respond to of 15615

why was gblx all over the place on Wednesday? Just speculating, but here's a hypothesis: This stock has doubled in the past month or so... The whole NAZ is up huge, and especially the internet/telecom sector, and especially the past 2 weeks (new records 11 of the past 15 trading days or something like that). Going into the long weekend, I suspect most of the institutional money managers were "shutting down" for the week early Wednesday, and I suspect some investors were taking profits and retreating to the sidelines for the 4-5 day weekend. All of this contributed to significantly less volume in GBLX than is typical recently (7 million shares vs. 13.5 million) with sharp moves coming from very little volume, with downward pressure early in the session (players leaving the field). All in all, though, the sentiment and momentum is very favorable for GBLX. The recent deal with Hutchison which promises to help GBLX be a major China play adds weight to the positive momentum and near-term upside potential going into the end of the year run (and the fast completion of the Racal deal has to tell traders: "stay on your toes... this thing is on fire."). Looks to me like all things are "go" through year-end. Wouldn't be surprised with another 20-25% upside (maybe more but we shouldn't be too greedy or complacent) before Christmas. JMHO.