I looked at the chart and if it's correct, on Dec 16,1992 the day of first issue traded 65,301,600. The second biggest was 61,864,800 on Oct 25,1994.
We still need more people to buy today.
Individual Investor's Closing Bell wrapup has a
glaring error that must be set straight. CPWR missed
analysts revenue estimate of $600 million when it should
say $464 million!!!!Please send an email to the
address below asking them to post a correction. Be
COURTEOUS but FIRM.
22-Jul-99 10:32:26 Shares of Compuware are
getting slammed today, trading down $9 1/16, or 27%, to
$24 9/16. The firm booked solid FY00 1Q earnings
results of 24 cents compared to the First Call consensus
of 21 cents. However, Compuware's revenue fell below
expectations raising the red flag about the near-term growth
expectations. The revenue shortfall prompted a slew of ratings
and earnings reductions from the sell-side. A brief
review of Compuware's most recent 13F filings showed an
institutional ownership base dominated by growth, aggressive
growth and momentum investors. These are the types of
investors who tend to focus on near-term fundamentals, i.e.
revenue and earnings growth, as well as price momentum.
The questions that have cropped up regarding
Compuware's near-term future undoubtedly convinced many of
these investors to unload shares - many aggressive
growth/momentum investors have high turnover rates, admonishing
the "buy-and-hold" approach taken by many value and
core-growth players. Block trading is at brisk levels,
accounting for about 45% of today's volume, which is well
above the firm's average daily volume of 4 million
shares at 14.6 million just one hour into the day.
I-Watch data shows institutional investors on the
bid-side have been unable to counter the wave of stock
hitting the market from the sellers. It appears that
these bidders were able to slow the rate of descent and
tentatively formed a bottom near the $24 1/2 level. Keep an
eye out for continued signs of support to indicate
that CPWR will be able to maintain current levels
versus renewed super messages from sellers suggesting
the stock will come under further pressure.
Your point was sorta my point. If there's nothing
wrong with the plane, but the weather is bad, do you go
flying anyway? Do you take your plane up to spite the
weather? If the market is screwed up, maybe it's better to
run with a stock in favor than out of favor. Normally
I wouldn't be so short-minded or reactionary, or
hint at abandonment of fundamentals, but this trend is
sustaining with both Compuware and conversely, the
it first appears. We are down 20% today from
yesterday, but the NASDAQ is in the tank today as well. BMCS
is down 9% today. IBM is off about 4%.
on these external things I think we lost about 15%
because of the "revenue" problem. I think we would have
been down 5% or so anyway, assuming no news. Now
losing 15% is a LOT, but it is better than losing 20%,
and it beats the hell out of panicking and selling
out at 24.5 like a whole lot of people did this
It will be interesting to see where we settle
price-wise in the next few days. My guess is somehere around
28. Long term I see continued appreciation in the
I think we would all stand pat for a while. Now
all this interest rate crap is going to start all
over again. This was so predictable. ....Careful all
you guys..the markets may now start pricing in
another interest rate hike...another .25 point was NOT in
This pretty much stinks. If you
are a reader of any of Martin Zweigs stuff..he would
not trade at all in a rising rate enviroment....he
takes a vacation or focuses on other things till a
bottoming pattern can be seen.
I think you stay out
and if you must trade short the rallies on days when
the volume drops on the rise or blowoff tops.
One compelling reason to keep an eye on CPWR may
be some apparent big institutional buying by GSCO
and MLCO. Any comments? Note the Nasdaq is off,
futures are chaotic. Techs, telecoms, computers off.
Calls for defensive trading...
How about tomorrow
when the dust settles and Greenspan goes back to his
digs for a while?? Or are we worried about China