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

To: Pure Folder who wrote (3531)	8/5/1998 12:50:00 PM
From: Pure Folder	Read Replies (1) \| Respond to of 11417

More specifics on the Spragues' holdings. According to the 12/31/97 Form 10-K, Steven Sprague has 152,195 shares of Class A Common and 190,659 shares of Class B Common. I have seen nothing suggesting Steven Sprague has sold, or plans to sell, a single share. As of year-end 1997, Peter Sprague had 1,995 shares of Class A Common and 1,873,834 shares of Class B Common. Class B converts to Class A on a one-for-one basis on the holder's election. My research shows that Peter Sprague has sold 75,000 shares in 1998, which is 4% of his holdings. He obviously converted some Class B to Class A to do this. I personally do not view this as significant in any respect, though I am continuing to follow the selling activity by insiders, if any. Returning to Eric, it is quite possible that he both confused Steven for Peter and was unaware of the Class B Common stock and Peter's holdings of Class B. I will await his response. Now, without intending to indict Eric, but to make a general observation only as we go forward, we should all be on the watch for false negative rumors (and positive ones as well, especially for those who have not filled their positions yet or otherwise are wary about the risks of this investment). If we get the stock price run we are hoping for (and even before then), this stock is vulnerable to heavy shorting by hedge funds in particular. This can often be accompanied by deliberate false rumors, planned aggressive selling in spurts to shake technical support levels, and hasty mistaken reasoning by investors. Stocks go down faster than they go up and we are all subject to being burned by this activity out of panic. The stakes could be enormous for some of us, thus the tendency to panic to keep profits already "earned" on paper. It is a thinly traded stock with a fair amount of volatility, and hedge funds and short-sellers can have a field day manipulating information that is posted on these boards. Pure Folder