MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

-0.1%

Aug 15 5:00 PM EST

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To: Sector Investor who wrote (16638)	11/5/1999 1:11:00 PM
From: Bruce L	Read Replies (1) of 42804

I feel wonderful today and wanted to share some thoughts. Especially in the last day, volume in MRVC is corresponding beautifully with price. Yesterday in the hour beginning 9:30EST MRVC went from 18 5/8 to 20 1/2 with volume that hour of 253,000, more than 3X the volume in the hour before and after. This totally validates the "hammer" we put in yesterday. Just now MRVC has pulled back from 21 1/8 to 20 5/8 bid. This corresponds with the retreat of the NAZ generally and the big tech stocks especially, such as CSCO and LU. This last pullback had some volume to it - such as a 5000 trade just now at 20 5/8(bid) but apart from that heavy volume has come in as the stock rises and falls as it falls. Can especially be seen on a 5 minute chart. Short term resistance is ~21. I'd hoped we had already broken through. Oh well. <G> When we get beyond 21, it will be off to the races. It occurs to me also that distribution to the large players - as has been occurring - can only go on so long before supply is seriously affected. This latest dip will exacerbate this effect: small buyers like you and I will think twice before putting in market stops or selling into pullbacks. This is when we will see truly huge moves up. Big buyers will find there no longer is any cheap stock. Stock is back up to 20 7/8. Bruce PS Now back to 20 1/2 with a 10 K block at 20 1/2. A moment before 10 K went at 20 3/4(bid).

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