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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Buckley who wrote (2713)	4/11/2000 6:09:00 PM
From: RocketMan	Respond to of 6516

Mike, thanks for that insightful, informative, and settling post. Thanks also to unclewest for his post. I don't consider myself a particularly nervous investor as long as I have a good understanding of the company's fundamentals and how it is responding to overall market conditions. I've been in many companies whose stock has dropped 50% or even 90%, and understand that it is the risk of investing. But I want to understand why it is happening. Part of my frustration is probably due to my difficulty in understanding how gmst is acting, and having been burned by other companies that had serious problems and in which the small investor was the last to know -- not that I expect that to be the case here, but it does add to my uncertainty. I suppose I always have the option of selling and moving on, but I have made a decision to let it play out, and in fact bought more calls today. If I'm wrong, well that's part of the investing challenge, as long as I am playing with all of the same cards as anyone else, including institutional investors. I fully undertand about the long term trends and events that you mentioned, and thanks for reminding me of those. It is crucial at times like these to keep that perspective. OTOH, a 15% selloff from a 200dma on a retest day is not a normal event, and it makes me wonder what is really going on. Even AOL and other portals behaved more "normally," even during selloffs -- and I know, since I rode AOL down 50% from its highs, and am still in it. I've mentioned several times the large movements in this stock on small trades, and the non-movement on large block trades. That is unusual. I also note that institutions trade this stock. Last quarter, although I don't have the figures in hand, I saw something like 29M shares bought institutionally, and 26M sold, and a few institutions were responsible for most of that trading. It is again unusual for an institution to have this type of trading volume, unless they are operating as a hedge fund, day trading and taking advantage of their large buys to get the prices they want from the MMs at the expense of individual investors. I have a problem with MMs holding the price for some big buy by walking it down from small investors, and I suspect the sec does as well. OK, I am done venting, let's move on...