Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: Lachesis Atropos who wrote (21536)	6/14/1999 1:34:00 PM
From: Johnny Canuck	Read Replies (1) of 67928

I don't have an easy answer for you on this one. QWST is now sitting below the 2 standard deviation point which I have at about 36, so it is technical oversold. But the bounce should ,when it occurs, take it to only 39-40, while the next support level is about 31.75. In context of the up coming Fed meeting, this trade has a 4 point upside and a 4 point down side. In my mind not worth the risk right now. I see net institutional buying on I-Watch but the net volume compared to the overall is small, so I would not put too much stock in those numbers. I have about 600,000 on the buy and 300,000 on the sell. The deciding point might be what is your read on management? Harry From a fundamental basis, this one is hard to determine short term. We are talking about a company that will only earn 11 cents per share this year. I would need to see the free cash flow numbers for the combined companies to know how to value this.

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