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Technology Stocks : CDRD (CD Radio) -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (348)	11/19/1997 11:43:00 AM
From: Candle stick	Respond to of 904

ALERT: MAJOR TRENDLINE SUPPORT AT 19 1/2 IS BROKEN....... Since 11 dollars in April of this year CDRD has been rising along a significant trendline......today was the fourth test of that trendline since April and it has BROKEN at 19 1/2....stock currently trading 18 3/4, down 1 point in a rising market. Technically, the tide has taken a significant turn for the worse, and as you know I believe it is ultimately heading for the gap at 8-11 dollars, where the uptrend began in April.......best of luck........;^)

To: Dale Baker who wrote (348)	11/19/1997 1:31:00 PM
From: Candle stick	Read Replies (1) \| Respond to of 904

CHECK OUT what I found buried in the filing from NOV. 17th: "In order to offer CD Radio, the Company was required to obtain a license from the FCC to launch and operate its satellites. The Company was a winning bidder in the April 1997 FCC auction for an FCC license to build, launch and operate a national satellite radio broadcast service (the "FCC License"), and the FCC's International Bureau issued such a license to the Company on October 10, 1997 (the "IB Order"). Although the FCC License is effective immediately, for a period of 30 days following the grant of the FCC License certain parties could petition either the International Bureau or the full FCC to reconsider the decision to grant the FCC License to the Company. An application for review by the full Commission was filed by one of the low-bidding applicants in the auction. This petition requests, among other things, that the Commission adopt restrictions on foreign ownership, which were not applied in the IB Order, and, on the basis of the Company's ownership, overrule the IB Order. If this petition is denied, the complaining party may file an appeal with the U.S. Court of Appeals, which must find that the decision of the FCC was not supported by substantial evidence, or was arbitrary, capricious or unlawful in order to overturn the grant of the Company's FCC License. Although the Company believes the FCC will uphold the IB Order, the Company cannot predict the ultimate 2 outcome of any proceedings relating to this petition or any other proceedings that may be filed. See "Business--Government Regulation--Communications Laws." " --------------------- ..........The petitioning party is a company named Primoshere, and they are in essence challanging the award of the license to CDRD based on the fact that CDRD is partly foriegn owned, and apparantly this was not disclosed during the bidding process. I dont think FCC licenses are allowed to be given to foriegn ownership, not 100% sure, but it is yet another hurdle for CDRD to overcome.......;^)