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Technology Stocks : Oak Technology (OAKT) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Reinhardt who wrote (4158)10/16/1998 3:47:00 PM
From: WTSherman  Respond to of 4335
 
No logical reason!!! From what I can tell nothing has changed and outlook is pretty much the same....BAD!!



To: Steve Reinhardt who wrote (4158)10/16/1998 8:25:00 PM
From: AreWeThereYet  Read Replies (1) | Respond to of 4335
 
The reason is pretty simple. OAKT has been over-corrected as a result of poor market condition + sector weakness + uncertain prospect. Even at $3/shr, OAKT is only around half its book value or 10% above its CASH value.

FWIW, I sold the shares I bought at $1 15/16 to $2 1/2. I am still holding the one I bought at $5 7/8 -> ouch!

aC



To: Steve Reinhardt who wrote (4158)10/17/1998 3:40:00 PM
From: Rob  Read Replies (1) | Respond to of 4335
 
I think the pop in OAKT is a short-term technical move. Short covering, really. Just like long-side players selling their big winners to help offset losers (you've noticed DELL sliding inexplicably in the past few weeks, but only after huge losses in the financials and smaller techs), short-side players cover some of their big winners when their upside looks to be limited, i.e. $1-2 more. That's all. Rob


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