Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Switz who wrote (3160)	7/24/1998 9:31:00 PM
From: Jim Switz	Read Replies (2) \| Respond to of 5944

For what it's worth, I learned something today. I learned that if a company is buying back shares, it must halt such buying by 3:30pm Eastern time, i.e. 1/2 hour before trading ends for the day. I assume this is to give the market an unfettered opportunity to function for a while on its own to stabilize a "real" price point. So, if a company is buying shares like mad to prop up the price (and I have no idea if ADPT was buying shares today at all), the last 1/2 hour should tell the tale, with a sharp fall in price, volume or both. Aha! said I. I'll watch it closely today. Guess what? The last 1/2 hour, the price held pretty darn firm between 10-15/16 and 11-1/8, and with decent volume - about 325,000 shares traded. So, if ADPT was buying today, it wasn't the sole reason the price firmed up around 11, I guess. Sure hope we've seen the bottom, but I've been trained by foul circumstances to keep assuming the worst. Sigh.