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Technology Stocks : Silicon Graphics, Inc. (SGI)

SGI 91.87

+1.8%

Dec 5 9:30 AM EST

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To: Bill Holtzman who wrote (3072)	10/17/1997 6:57:00 PM
From: larry larsen	of 14451

Hi Bill, > Larry, You don't consider the purchase of 30 million shares near 17 > to be support > for a stock which trades 2.7 million a day? Hey, so it turned > out it broke the > support. Happens all the time. No, maybe the word chirping was too strong. I need to learn to come across less abrasive - but consider, a stock moves up say, from 15 to 20 and pauses holding its gains. The tendency by many, including myself, would be to believe that the gains are being absorbed nicely and a continuation is likely. Now, consider the inverse. A stock moves from 30 to 17 and holds (look familiar?). The likely move is a continuation, not a reversal. You need volume, in my opinion, that wasn't there. Forget average volume. You need considerable volume to reverse what happened to SGI. It (a reversal) will happen because SGI is the hottest (technologically) out there - bar none. I just don't believe that piss ant (there I go again) stock pattern at 17 showed anything. Larry PS Get me going and I'll offer my opinion why SGI doesn't make it where it counts - in sales!

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