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Technology Stocks : How high will Microsoft fly?
MSFT 492.01+1.3%Nov 28 9:30 AM EST
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To: johnd who wrote (42915)4/21/2000 8:46:00 PM
From: Valley Girl  Read Replies (2) of 74651
 
If you go in with limit orders, you're likely to catch a falling knife. The traders will filet you. Plus my understanding is the stock is already below most of those prices in after-hours Thursday, so it may just gap down on the open Monday.

You've got plenty, if it runs away from you, you'll be the happiest man around. So if you're serious about buying it, why not just sit back and watch the tape for awhile, wait for a signal from one of the traders here like JH?

Unfortuntely my chart doesn't go down far enough to even guess at the next support level. The bottom of this one is around 72. Certainly no reason to buy it above that price, possibly not above 69.

Even assuming you're right about this thing rebounding, you might also want to consider if a little extra cash is worth the additional risk of increasing your overweighting.

Good luck, and try to have a happy Easter week-end.

P.S. OK I checked the chart and 72 is a solid supporting base going back two years. Below that it looks like a free-fall with the next real support level at 50ish and an iffy bump around 60. I don't really think it will free-fall, but what I'm saying is if the support at 72 fails then we're in totally uncharted waters and just about anything could happen.
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