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Technology Stocks : Excel Communications

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To: Miami Phillips who wrote (2555)	3/2/1998 8:47:00 AM
From: Terry Whitman	of 2806

I would not concern myself with the 22 mark. ECI is still very strong technically. There may be a lull for a week or 2. If you look at the chart (starting from the recent bottom)- you'll see 2 bullish looking step-ups, followed by a 1-2wk. basing period. We have just made a very quick 3rd step-up. A short basing period here would follow the recent pattern. It would not surprise me however if the basing period is shorter than the previous ones, due to the heavy buying volume on this last step. What would surprise me here would be a major reversal of the current bullish trend. TW

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