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Technology Stocks : S3 (Multimedia semi's place 2be)
SIII 0.00010000.0%May 12 5:00 PM EST
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To: RICK SCHINZEL who wrote (7584)1/29/1997 12:59:00 AM
From: Keith Dykstra   of 9477
 
Rick, to put it simply, there needs to be a reason to buy and it is not forthcoming. The stock has not responded well to news releases over the past few months. What came out during Comdex in Nov., the upgrades and support from the various brokerage houses, even yesterday's interview with CEO Johnson has done little to spark investors to buy. Meanwhile, even though support still holds at 16+ the overhead supply of stock is becoming burdensome to the price as evidence thru today's action.

As I posted a few days ago the lack of volume is playing against any rise to the price. I feel that it will take some exogenous factor to move the stock one way or another and from what the market is saying it is bias towards a negative move. Personally, something major will have to come forth from the company to blast this stock into an upswing. As for the downside, the company would have to shoot itself in the foot for it to breakdown. There is just too many good things happening at S3 for it to implode by its own hand.

Which leaves the economy. One only needs to look at today's action to see signs of a split personalty. The market doesn't know what the Fed is going to do next week. Friday, the GDP report comes out and by most accounts it going to show a blowout quarter. What does that do to the stock, I don't know. I would imagine the next few days will be rather quiet.

Too nuts for me,

Keith
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