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Technology Stocks : All About Sun Microsystems
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To: Ben Antanaitis who wrote (939)3/19/1997 1:49:00 PM
From: Senthil Sankarappan   of 64865
 
>>>John Murphy (CNBC) just described the SUNW chart as a possible double-top and
predicted dire results if the stock closes below 25 1/2 during the current trend...... no
further analysis offered by Murphy. 13:25 EST <<<

Good. This indicates that SUNW has had its panic sellers already. This John Murphy is the genious who says bearish things at the bottom and bullish things at top. I remember he predicting that IOMEGA will reach $35 when it was rallying from 15 -> 25 in last October. Guess what?
Next day IOMEGA reached 26 and that's the top ever since. IOM is now sitting at 14.x steadily.

Recently Twister is back in this thread. That also indicates that bottom is close for SUNW. Remember the bearish posts from Twister in Jan? He disappeared after that and is visiting only recently. Twister, please don't take this personally. I am just judging the bottom of SUNW and I guess bottom happens only when there is lot of bearishness.
When Elaine garcerelli turned bearish last July, that was the bottom for the market and she turned Bullish in Jan - almost at the top.

Hope this correction thing ends soon so that we can focus on individual companies rather than the market and the so called Technical Analyst Geniouses. (I personally feel that people make fool of themselves by predicting such dynamic things like Technology)

-senthil
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