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The Timken Company Message Board

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  • FS_Cole FS_Cole Oct 5, 1998 6:53 PM Flag

    Looks like there was last minute support

    I believe the only "funny business" going on at
    the close with Timken was the fact that a 38,600
    share block was being shopped around in the last 15
    minutes of the trading day, causing the stock to get weak
    right at the end. Once this block traded, it is only
    normal for the stock to lift slighty. A block of this
    size with TKR's liquidity will affect the stock price,
    at least temporarily. Secondly, a company is not
    allowed to buy back their shares in the first half-hour
    or the last half-hour of each days trading, to
    prevent them from being able to "mark" the stock price. I
    suppose it is possible an insider could have bought 1,000
    shares right at the end to ensure a $15 close.

    The momentum is so negative on TKR right now it
    doesn't matter how "cheap" the stock is on
    fundamental/statistical measures. The stock is most likely headed lower,
    in spite of its "cheapness."

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    • I waited patiently for this "blue chip" all
      Summer, then went all the way 500 share at 15.375. I
      thought I finally did a stock correctly, but now it is
      into the 13's on no news. No other blue chip that i
      see has been beaten this bad. It is like Merck going
      from its 139 high to 45. What gives? Do I sell now
      before a 10% loss becomes 40% (been there, done that and
      do not ever wish to repeat the ride). What about
      flight to quality. Isnt TKR quality? It is held by many
      conservative funds incl. Blue Chip Value. Thanks

      • 1 Reply to HomeyBB
      • The past yard sticks no longer apply. industrial
        stocks are being driven down to levels not seen in years
        by a crushing deflation that will impact the wider
        economy in a dramatic way despite the nonsense uttered by
        the commentators. TKR is an excellent long term value
        here and I personally bought some recently. But being
        that said the prices may well move lower over the next
        weeks and perhaps months as earning deteriorate and PE
        ratios rise. If your time horizen is months then expect
        a rocky course with perhaps a serious spike down
        and a great opportunity to buy some more. I think
        though that in a few years, the investment will pay off
        perhaps big-time.

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