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Biotech / Medical : Matritech (NASDAQ - NMPS)
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To: eugenic1 who wrote (131)7/19/1996 6:04:00 PM
From: Patrick Tang   of 849
 
Roger: Believe it or not, most of the technical signs are here for a re-test of the 200-DMA:

1. Distribution was evident this morning between 9:30 am to 1:30 pm.

2. Traders normally take profit after a 40%-50% move

3. Specialist's inventory has almost depleted and they HAVE to sneak the price down to replenish it

4. Sell-on-news syndrome will prevail for today's press release

So fasten your seat belt again, and barring external events, NMPS will come down and re-test the 200-DMA. For long term investors, have your cash ready and jump in on both feet when it trades below $10.

Good luck.

P.S. Roger, I am not optimistic about next year's general market outlook (detailed analysis to follow if I have time), therefore, I am forced to look at ONLY the intermediate term.
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