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Technology Stocks : Red Hat Software Inc. (Nasdq-RHAT)
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To: Nelson Chang who wrote (731)8/20/1999 4:19:00 PM
From: Nelson Chang  Read Replies (1) of 1794
 
As far as technicals are concerned, this stock is neither a short or a long.

It appears to be range bound, and until it can break to the upside or downside, intraday swings will become less volatile and volume will lighten up.

When the quiet period ends and when the Fed meeting concludes, we should see some action.

As far as being long or short, both appear to have good arguments. What cannot be denied is that this issue like the RBAK's and JNPR's is liquidity driven.

So when volume picks up, it is simply a matter of supply and demand. The story of whether this company is overvalued or is the next MSFT becomes secondary to who wants in and who wants out. And you don't want to be on the wrong side of the train - long or short - cuz it will be difficult to get out at the price u want.
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