Genesis Microchip (GNSS) Message Board

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Technology Stocks : Genesis Microchip (GNSS)

GNSS 2.180

0.0%

Jan 5 3:59 PM EST

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To: John Liu who wrote (507)	11/15/1999 6:13:00 PM
From: The Ox	of 1277

I don't think today's action should be troubling to any of the longs here unless you are position or day trading GNSS. The stock pretty much washed out on the 8th and 9th and has seen a very nice rebound since then (about 30% improvement in 3 days, before today's action). Today's slight retracement looks like normal profit taking from those buyers who have come in lately and have had a very quick reward. We saw some decent trading near the end of the day and the stock didn't fall off a cliff. It also wouldn't surprise me to see the stock close the gap from a couple of days ago which would probably scare away a lot of the short termers. We know that AG/FED will rock the market tomorrow, whether by direct action or lack thereof. Unless you are over extended, I wouldn't be worried by today's movement. These are simple opinions of mine and each has their own issues and investment/trading strategies. I still think this is an excellent company to invest in but I've been wrong before and I'm sure I'll be wrong again in the future<g>. Hope this helps, Michael

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