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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: ACAN who wrote (32936)	12/7/1999 12:56:00 PM
From: ivan solotaroff	Respond to of 79214

BJCT Allan, Got out of this one with a 50% gain back in October and felt like a genius. Whoops. ABTX did its first attempt at an intraday leap, hit some selling pressure, and is making up its furry little mind as we speak. I'm hoping for 2 7/16 as a buy price. The co. raised cash by selling over 800K shares at a six percent discount to the market--with that market estimated at roughly 2.99/share; the last time this happened, when George Soros bought out a chunk at a discount to the market ($14 on a $15.50 stock) (who says the big boys don't make mistakes?), it quickly visited that discount price then continued on for another 10%--typical market over-reaction--before taking off. Of course, that was way before it was a cat. Today's news (that the big financer of their turn-around/survival plan told them they have to come up with another $5 to $15 million) is not good news: If they have to go on selling shares at a six-percent discount to the market to achieve that, that should make for another week or two of spiral down. This seems like a clear case of Wall Street getting even: You made us bid you up to $29/share then told us you were in trouble?; fine, we'll bid you down to to $2.9./share, then offer to buy you out at a discount to that valuation. This is half of what cat-plays are about. Sorry, just thinking out loud. I'm not going to buy this feline till it's beaten to a f$#ing pulp. Ivan Whoops. Sorry I thought this was the cat thread. Would've made this a whole lot shorter.