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Technology Stocks : QUANTUM -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (6626)	12/12/1997 12:51:00 PM
From: Dale J.	Respond to of 9124

<<re: The big volume days from Dec 2 to the announcement indicates to me that the smart money was exiting. I have never really understood this. Why doesn't it indicate that the "smart money" was buying? I know, the stock was tanking on big volume. But still, someone with big bucks had to be buying.>> Because not everyone is a client of Lehman's, Sands etc. The information flows from the Company CEO to the analysts to the clients of those analyst's etc. I know you and I disagree about the advantage analysts and their clients have in getting information directly from the CEO before others. But IMO it is an immense advantage. MB started the conference call with "As we have said thoughout the qtr their is risks in pricing pressure...", I believe Lehman's, Sands started to get the picture at the company meeting at comdex and relayed it to us several weeks later with downgrades and lower earning revisions. Lehmans, Sands etc are not public servents. They have private interests in making money for themselves and their clients. That is why they should not be granted any special meetings with the company CEO that others are denied.