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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Thomas who wrote (1667)	1/8/1998 8:22:00 AM
From: ccryder	Read Replies (1) \| Respond to of 10852

My thoughts regarding the impact of the 'flu' on LOR stock price is that I have observed little impact. When the rest of the market and particularily tech stocks were hard hit with the flu given as the reason, LOR and GSTRF held up. The decline in the last day or so was not the result of the flu, even though the rest of the market decline was. The decline was the result of false rumors regarding launch, to wit: Subject: Re: Price drop Date: Wed, Jan 7, 1998 21:24 EST From: Readware Message-id: <19980108022400.VAA29557@ladder02.news.aol.com> Yes-- rumors today of another launch delay. Possible reason for the rumors this time, as told to me today: Globalstar was trading at its "50 day moving average" ($48), and LOR "broke its on the upside" ($21 5/8). "The shorts had to brake the upward move" (to continue the quote of what was said)--spread rumors that the G* launch was delayed again, and "got the momentum in both stocks broken. The suckers sold." Wall Street has been engaged in duplicity for years,-- the latest example of which is in its fixing prices in securites (as the $1.1 billion in payment it just agreed to pay to litigants evidences). Wall Street's highly paid employees get away with the duplicity 99% of the time because of the temporary effect its duplicity usually has. The effect lasts just long enough for a group on Wall Street to cover its (their) losses, or make a profit. The duplicitous behavior, on the other hand, is not temporary. It continues because of shareholder tolerance-- so long as the effects of the duplicity remain temporary.