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Biotech / Medical : Summit Technology (BEAM) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kelly who wrote (1070)	10/1/1998 10:42:00 AM
From: WHL	Read Replies (1) \| Respond to of 1386

Strong industry, lots of cash. Long decline in price. I have seen this before in other industries. (WDC, DME, USS, FM to name a few) It takes a long time for market sentiment to reverse on a broken-down stock. Once it does there is often some invisible hand that keeps the stock price down for a long time after it should have started to recover. This is a period known as "accumulation"- and it is usually done by people with enough money to be adept at holding the price down while buying up the float. Only once they are satisfied does the stock ever move. Usually there are a few very high volume days before that happens (capitulation by some major holdings). The "when" is impossible to predict. For a stock that is as beat up as BEAM, the recovery period will be well in excess of a year IMO- even once it starts.