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Biotech / Medical : VISX

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To: J. Plesha who wrote (1557)1/25/2000 11:09:00 AM
From: Sun Tzu  Read Replies (1) of 1754
 
The institutions aren't being very careful or subtle as they unload

Which is precisely why it is easy to tell when they are done. First look for the volume to die down. This stock has average trading volume of ~3M, which has surged in the last few days. This means that not only the institutions are not out of it, they are actively trading it down. So stay out the rampaging elephant's path, I say. Once the average volume drops to 1~2M for a couple of weeks, I'd say they are out. The other sure way to know the bottom is reached is if a bad news comes out and the stock does not go lower, or even better goes higher. I'd look for the reaction to the final ITC ruling in March.

Sun Tzu
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