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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: halftime who wrote (2392)	4/12/2000 4:45:00 PM
From: IngotWeTrust	Respond to of 3873

Well, as much as I've enjoyed the communications w/you on this thread, today's $12 plus haircut in your LVLT price was rather sickening, and on 3x avg daily volume, even for a bearish observer like me. WHEW. Hope you'll be allright. If I were a betting man, I'd guesstimate the biggest reason why this OTC market is in a tailspin is: the last 12 month's money made in certain 'Daq stocks was made by the "little people." Usually those types of folks don't make proper plans for paying taxes, ergo they sell when everyone else is selling, aka tax weekend instead of "budgeting" for the unfeeling IRS collector. I got caught in a similar downdraft about 20 years ago, only the vehicle that had caught the fancy of a bunch of us greenhorns were Ginne Mae gov't bond funds which has just been invented. All of us had made beaucoup bucks in these particular sector. Then about April 3rd that year, everyone and their dog hit the door, and slow pokes like me got creamed. That little experience cost me about $25K PLUS the tax hickey. I never forgot that lesson, and went on to observe for the next 10 years or so, the GNMA bond fund liquidation started backing up by about 3-5 business days every year, i.e., the cascade downward began earlier and earlier. Then to rub salt in the wounds, when interest rates began to plummet, the 11%-13% paying GNMA funds began to call the bonds and refi...Lordy. Anyhow, that smells a lot like what is going on here. Pro-shorters are having a heyday, and the retail public is panicing, regardless of what CNBC would like us to believe. The gooders will be left standing, but margin calls are only exacerbating the bailing out of the [poor planners]noveau riche Hope you are well positioned. I couldn't resist picking up some terrific bargains in some truly great stocks today. Looking to add more as things re-align here... I've been waiting patiently for almost 5 months to buy, so from my perspective, this sell-off has been a very long time in coming. (And sorry, nope, didn't buy any LVLT which is off considerably since I showed up here and it was trading at $106 per share...now $69) O/49r