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Technology Stocks : Maxtor (MXTR)
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To: xamir who wrote ()1/25/1999 5:10:00 PM
From: kendall harmon   of 467
 
With regard to the comments about the 50 day MA movement on the MXTR chart I did not say and did not mean to imply that this was a typical MXTR pattern, only that in this last quarter MXTR followed this pattern which is one earnings season pattern for some stocks.

I believe Mr. Beardslee is correct that the market needs to absorb the supply of the secondary offering, and that the timing could have been better. Having said that, he is close to turning this thread into a wake.

Profit taking and supply absorption explain most of the action, as does the digestion going on in the overall market. I also follow level 2 and note that many buyers came in today in the low 15's. I also reiterate that the long term earnings story is HIGHLY bullish. If someone as sophisticated as Jenna Simon can recognize this, we ought to be able to as well.
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