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Technology Stocks : Progress Software -- Ignore unavailable to you. Want to Upgrade?

To: HubTech who wrote (252)	5/11/1999 12:16:00 PM
From: t-boy	Read Replies (1) \| Respond to of 296

I've got a theory on the recent price movement. Do to Y2K problems, several big Progress shops have been laying off consultants -- Symix and QAD to name a few. I've recently interviewed several Consultants who were losing their H-1 visas due to a reduction in openings. Given the narrow market presence of Progress, I would be willing to guess a lot of the small holders of this stock are Progress developers. With its small float and daily volume, if they were forced into liquifying their holdings it would provide a lot of downward price pressure. Any comments -- has anyone seem similar activity in the consulting market? If this were the case, it would signal a significant buying opportunity, as this is just a short-term effect, not tied to fundamentals.