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Technology Stocks : General Magic

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To: John Madarasz who wrote (7200)	11/9/1999 11:30:00 PM
From: Joseph H. Leiti	Read Replies (3) of 10081

Just my 2 cents here, I've been watching the tape very closely over the last few days. We've had alot of mom and pop buying at the ask, (say the 1k to 4k area). There has been an increasing amount of larger trades (10k and up). I think the real question will be at the marginable line 4.00, where institutions can/will come in. Also at this area is massive resistance (probably 10 months worth) from between 4 and 7. So as I see it we should get to 3-4 fairly easy, The 4-7 is going to be tough w/o absolute real news. To break "into" the 4-7 will be spec, (imho) doable, but we're gonna have to have real news to stay there. The one case (the best) could be a slingshot through 4-7. News like, .. concrete earnings surprise coupled with news from test markets coupled with a buyout rumor or solid alliance (earnings producer) .. now wouldn't that be something.. possible but ... could happen

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