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Technology Stocks : ELECTROGLAS -- How far can it go?
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To: Proud_Infidel who wrote (718)1/25/2000 8:54:00 PM
From: Jerome  Read Replies (1) of 1070
 
Re run of a trading pattern. Todays action on EGLS was exactly the same as VECO three trading days ago.
1) Stock approaches a resistance point near a new high (egls at 34, VECO at 50

2) Large block sell off about 1PM EST (50,000 shares)

3) Stock tanks 4 to five points from the open price

4) Stock rallies in the last two hours of trading with in one point of the open price.

5) Trading volume in the last two hours is twice the volume of the previous hours (since the open)

6) The next day the stock rallies strongly (VECO rallied 5 5/8 yesterday)

Could this be some form of pre-arranged manipulation? I don't know much about the legality of the matter or if security laws were violated. It's not a question of ethical standards because money was involved. I find this pattern troublesome.

If this was a pre arranged pattern EGLS will rally nicely tomorrow.

Comments appreciated.

Jerome



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