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Technology Stocks : Orbital science (ORB) -- Ignore unavailable to you. Want to Upgrade?

To: zx who wrote (1523)	4/22/1998 10:29:00 PM
From: Michael Young	Read Replies (1) \| Respond to of 2394

Haven't been on this board lately, but I've certainly enjoyed the move in this stock. What a relentless climb upward! I took partial profits in the mid-40s and am considering what to do in the near future. ORBI is now an "event" stock. The event being the establishment of the Orbcomm system. This event won't bring in immediate earnings, but the stock is being bid up in anticipation of earnings years in the future. The "easy" money in this type of situation is typically made as the stock climbs in anticipation of the event. Once the event occurs, the stock typically experiences a sharp correction as investors realize the good news is already built into the price. In ORBI's case, there is no guarantee the system will generate big profits in the near term. More likely, the system will suffer the usual snags and snafus. Especially considering the technical complexity of the venture. So, the preferred strategy may be to sell when the all the birds are up. Maybe even go short briefly, until the dust settles. MIKE