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Strategies & Market Trends : Z PORTFOLIO
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To: Susan Saline who wrote (2874)7/5/1999 10:31:00 PM
From: DanZ  Read Replies (1) of 11568
 
DIR, GMGC, GUMM.

Sue,

DLJ Direct hasn't been trading very long but my guess is that it will trade in a range between 23 1/3 and 29 1/2 for the short term. Anything outside that range could result in a continuation of the move in that direction. Friday's close of 27 1/8 is too close to the middle of the range for me to make a chart based trade. I haven't looked at the fundamentals but I don't consider this company to be one of the top on-line brokers. I'd wait for to see if it falls back to the bottom of the trading range before buying it. If I already owned it, I'd hold as long as it doesn't break 23. The stock has been oscillating in a narrowing range after the big run up from 23 to 45 in May. I assume this is when it went public. Given its pattern of lower highs and higher lows since May, a breach of 23 wouldn't be good whereas a move above 29 3/4 would be positive.

GMGC held support at 3 1/2 last week and closed on an uptick. The stock looks good from a risk perspective with a target of 4 1/2 to 5. The stock might have some resistance at the middle daily and middle weekly bollinger bands (3 7/8 to 4).

GUMM closed above its upper daily, weekly, and monthly bollinger bands last week. This type of chart pattern is almost always followed by a continuation of the move and is very bullish. The stock also posted it's highest weekly and monthly close since July and August 1997. The weekly stochastic is oversold and turned up last week. The weekly stochastic is also near a point that marked previous bottoms in the stock. The future fundamentals look very good for GumTech and the chart is finally confirming it. I think the stock could trade to 18 within a few weeks.

Best of luck with DIR and your other holdings. I agree with Ron. You have been trading very well this year and I sincerely appreciate all your posts here and on the other thread. I don't say that often enough, but I mean it with all sincerity.

Dan
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