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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: MileHigh who wrote (7468)	3/11/2000 11:06:00 AM
From: tuck	Read Replies (3) \| Respond to of 10852

MileHigh, I concur that we are not yet at the bottom, though I nibbled just in case. If we get a dead cat bounce, however, I will be very surprised if LOR goes to 16 or 17. I don't think it'll go much over 13. The Open Interest Theory -- which states that, other things being equal, market makers will manipulate the price of a stock such that the largest possible number of options expire worthless -- suggest that next Friday, LOR will finish below 12 1/2. The OI theory is not terribly reliable, but it can be used as a yardstick of MM manipulativeness: sometimes they are pretty blatantly fulfilling its prophecies. quote.cboe.com I'm looking for a bottom in the 10s. I expect to look at the 5 minute chart and see light volume trading taking the stock down along the lower Bollinger Band into the 10s. Then some large blocks will go through. That's when I'll back up the truck. Could happen any time, and when LOR breaks below 11, I'll be watching that chart VERY closely. Someday, I'll get Level II, which would make this process a little easier. Anyone with Level II is welcome to watch for this and alert us ;~} Cheers, Tuck