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Non-Tech : MBNA (KRB) -- Ignore unavailable to you. Want to Upgrade?


To: robert duke who wrote (79)2/5/1999 2:09:00 PM
From: robert marshall  Read Replies (1) | Respond to of 119
 
Robert:

Looks like it just broke through 24 on the downside. Another bad day in what looks like a pullback. Definitely it will bounce off of the 19 area how high I do not know. Depends on market conditions - I have heard rumors of inflation picking up at end of year. If that is the case 30 is too high maybe it will bounce back to the 24 level. That is where the offering was distributed. In any case this stock is dead money this year. I picked it up off a short service that expects it to go down. I'm only in til it drops to 19 and will move to another stock. Good luck.



To: robert duke who wrote (79)2/5/1999 4:26:00 PM
From: robert marshall  Read Replies (1) | Respond to of 119
 
Robert:

An observation of Discover Brokerage's 5 minute tape of todays trading. KRB dropped at 1:00 pm on 300,000 shares to 23 3/4 then had worked its way back up to about 24 3/8 at 3:45 pm. Then in 10-15 minutes on 100,00 shares surged to 24 15/16 at close with a ask of 24 5/8 for the entire gain for the day. Technically a very weak day the MM is working very hard to support this stock. I would not be surprised if he brought the last few shares so the weekend investors don't get scared and exit Monday. Looks like more downside next week.

On Wednesday the same thing happened and the next day the stock dropped badly. The MM can not prop up this stock up forever. When the big funds want out the drop will come. The market is edgy on top of it all with fear of a drop anyway. Time to exit and re-enter later.