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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: gruetz who wrote (11952)	5/26/2000 8:56:00 PM
From: Obewon	Read Replies (1) \| Respond to of 12468

It all supply and demand! The institutional holding positions in all of these BBFW carriers reached the high 70% of existing shares as most aggressive managers jumped on the bandwagon. Trying to jump off at the same time, they find that no one has the wherewithall in a plummetting market to buy in bulk. Thus, you have a classic overshoot where seller are willing to take most any price. Buyers know this and are more than willing to let the stock continue to fall to lower levels. Eventually, someone (probably a well capitalized competitor) decides that shareholders will jump at any decent premium and announces a takeover offer. The market reverses as people start to realize the bargains that exist and eventually the market settles at a level slightly hier that its pre-Nov run-up. VG