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Technology Stocks : Zitel-ZITL What's Happening
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To: Stanley L Brown who wrote (1276)11/29/1996 1:55:00 PM
From: dppl   of 18263
 
Stanley, nothing particular to say about ZITL today except that today was a post-split party pooper's day. The volume is related to day 1 of the split. I think that should be it for split fevour. I'd expect ZITL to run on higher than avergae volume over the next few days - usually does after splits. But as I was saying we're going to be in a trading range 23 1/2 - 20 1/2 for a few down days, then short covering etc. Wednesday was the inflection point on this round. I haven't checked money flow today, but with 1/3rd of the stocks short any figure is bound to be distorted - that's why I think we get all the divergences on ZITL, technically speaking. By the way, from a classical point of view, the short entry point is on a retracement from a blowoff beneath the neckline.. so we are all prone to be a bit trigger happy here.

Thomas
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