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Technology Stocks : WCOM
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To: el paradisio who wrote (6430)4/12/2000 7:17:00 PM
From: Jacob Snyder  Read Replies (1) of 11568
 
re: safety margin at 40:

Could you explain your reasoning?

40 would be a new low, below the level where it has found support repeatedly over the last few months. I think hitting 40 anytime, or not closing above 42 tomorrow, would be a very bad technical indicator.

I had thought about doubling up at 42, but I think I'll wait now, and see if we go lower. I won't sell what I have. The stock is still showing relative strength. QQQ down 5.5% today, WCOM down 2.4%. Since I've got QQQ puts, and am long WCOM, I'm happy, relatively.
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