Creative Labs (CREAF) Message Board

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Technology Stocks : Creative Labs (CREAF)

CREAF 0.370

-21.3%

Oct 31 1:10 PM EST

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To: CHIP HUNTER who wrote (8645)	1/23/1998 12:16:00 AM
From: Douglas V. Fant	Read Replies (1) of 13925

CHIP HUNTER, Greetings! I agree with you that CREAF is a little overbought here. Still earnings coming out tomorrow changes many things IMO. For e.g., take a look at another of my favorite stocks, a medtech called FPAM. Just like what CREAF might do tomorrow, FPAM reported today that a recent acquisition added $60mm revenue to their top line. While still in a mildly bearish pattern like most techs, FPAM nevetheless managed a double top breakout on a Point & Figure Chart basis today-i.e., the point being that the announcement of the positive financial impact of the recent acquisition dropped "out of the blue" and also jolted FPAM out of its technical doldrums. So yes, I believe CREAF is oversold- but I am long CREAF as other technical factors are turning positive such as the Up/Down ratio (just this week in fact) and I also believe that the three acquisitions changed what this company actually is. Might CREAF drop to $16/share again- possibly. But more realistically I believe that CREAF's trading range will tighten further as CREAF builds a base for a sustained upward move a little later this year.... Sincerely, Doug F.

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