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Technology Stocks : Globalstar Memorial Day Massacre -- Ignore unavailable to you. Want to Upgrade?

To: A.L. Reagan who wrote (47)	5/11/2000 12:32:00 AM
From: Maurice Winn	Respond to of 543

siliconinvestor.com You're right AL, that shows average volumes under 2.5m shares a day. Of course with some excitement and a rising market, sellers would bail out, not understanding that they could well be the equivalent of those who sold Q! the day before the L M Ericsson agreement with QUALCOMM last year. $20 a share will NOT be impressive in a year or two when Globalstar is $100 a share. It will be downright embarrassing to have sold at $10 or $20 when in Feb 2004 Globalstar should be at $1000 [maybe add a year for all the delays we've had]. So, with 25m or so shares short, that would take 10 working days for shorts to cover. That's 2 weeks. If they started covering now, they'd not get clear until 23 May, which is only a couple of days before the Main Event! They are almost in the net. Another couple of days and they can't get clear. Just as Alan Green$pan is something of a hero for moderating excessive markets, do you think we'll be awarded some great honour for pricking an absurdly speculative bubble [albeit a downside bubble]? Maybe promoted to take over from Alan Green$pan as it seems more likely that somebody needs to stop the downward trend than worry about upward just now. If he thought the Wealth Effect was something to worry about, wait until he sees how bad a Poor Effect can make things. That really gets people down in the dumps and is enough to start world wars. Witness the aftermath of the Great Depression. You know, we might even single-handedly [well, multi-handedly] turn the present Nasdaq demise around!! Go Team... Mqurice