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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (11354)	5/9/1999 9:33:00 PM
From: Stam	Read Replies (4) \| Respond to of 18016

FIrst of all I was talking about the only 4 who have a strong buy. And most of the analysts have maintained after february's preannouncement as well but the stock went nowhere. As far as SP opinion, give it sometime to work itself out. After a one day big drop a lot of people cover their shorts and also people who think all of a sudden the stock is a bargain jump in. Once all that is done usually 1-3 days the stock tests the low it made on the big drop day, in this case 27 and most times breaks it and drifts as no more buyers are stepping up. Will you be buying any more shares here? BTW as of the last report there were only 1.5 million shares short, against a float of 130 million. Believe me it will not take long to cover if it is not done on Friday's rally. Do you think people were actually chasing the stock and run it to 31 because they are afraid they will miss the upside, no it was shorts trying to close out profitable positions, and that is why it came down to 29 1/2 in a matter of minutes before bouncing a little. Anyway I can't waist my time arguing with words, I will revisit you guys when the stock is around 27 or less, to see what you think then. Good luck.