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To: stockbug who wrote (23555)5/17/1998 11:03:00 PM
From: William G. Murray  Read Replies (1) | Respond to of 36349
 
You wrote : "The Monday before options last month was the day earnings were reported. The next Morning 3 firms downgraded it to a hold. That is why it went down in April."

This explanation makes sense. I thought it dropped because I had rolled up my covered call positions of Apr 20 calls to Apr 22.5 calls.

Yes, it did hurt.

B.M.



To: stockbug who wrote (23555)5/17/1998 11:50:00 PM
From: Greg Thornton  Respond to of 36349
 
stockbug,

The fact of the matter is that earnings were basically in line with expectations. The manipulators drove the stock down from Monday's closing price of $24 to $21 before the market had even opened! After the market opened, the stock traded around $21 all day Tuesday and drifted slowly down to $20 by Friday (options expiration).

That is why it went down in April!

Greg


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