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Technology Stocks : PairGain Technologies -- Ignore unavailable to you. Want to Upgrade?

To: helkel who wrote (26613)	10/20/1998 7:12:00 PM
From: kvogel	Read Replies (2) \| Respond to of 36349

MM's shorted all morning around 9 5/16. Afternoon selling was some small blocks but they were enough as buying dried up. CFO at PAIR said they would probably begin buyback this week but would only buy small amounts at a time not to disrupt the market. MM's were getting stock in last hour and PAIR buying should provide an upward bias fairly soon. I don't think we'll see 6 again and I'm not sure we'll even see low 7's on pullback. The bottom is in place IMHO. There are probably also some funds still doing tax loss selling but MM's will get that stock so they can sell it back to the company at higher prices. Don't forget the company's only purpose of the buyback is to get the price of shares back to 13-15 so they have to act on weakness. They don't want to end up with millions of shares and the price still below 10. Karl