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Technology Stocks : CNQR - Concur Technologies
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To: kami who wrote (128)11/13/1999 12:29:00 AM
From: TH  Read Replies (1) of 374
 
kami,

Pull back is what happens when stocks rocket like this one. In this case there was some news, but not enough to keep it on a vertical climb forever. 100% in one week is pretty rare, and that is just about where it settled in at the close.

I would not despair, as some pullback can be very good for a stock. It needs to consolidate a bit and then the next major leg up can start. You actually have a little bit better chance of going even higher on the next major event or news as a stronger base will have formed. This also offers some support in the case of a pullback based on news or general market conditions.

It is possible that the MM wanted to get some more, but I think they had plenty of opportunity to do that in the three weeks before the run.

Give it time and establish a price that you will sell on both the upside and the downside. You can always revise the upside target, but you should stick with your downside mark as this helps you preserve capital.

I don't mean to have covered so many basics that you may already know, but your question sounded like you were not sure what to do next.

I have sold, but am looking for a reentry point. It seemed today that 26 held some support and the bid to ask ratio was quite high while it was trading there.

I will watch Monday and if it shows support in the current trading range I will probably reenter.

I think CNQR has more steam to come. This sector is hot and if they can execute their plan they could be a real competitor in this B2B market. Their goals are not easy and several others have more established systems.

I hope this helps.

Good Luck

Thurston
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