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Technology Stocks : Broadcom (BRCM)
BRCM 54.670.0%Feb 9 4:00 PM EST
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To: Ibexx who wrote (4666)11/19/2000 1:09:23 AM
From: neverenough  Read Replies (1) of 6531
 
ibexx,

I know you like BRCM so I won't rag on your post. But it's pretty obvious since the only recent downgrades came from Merrill Lynch, and Hambrecht. It should be illegal the way these big houses downgrade a stock just so they can buy it up at bargain prices, but their in the business to make money so naturally they'll do what ever it takes to achieve this goal.

I almost added more Friday, but with the uncertainty of this election bullshit figured this is just another good excuse for these houses to continue to sell BRCM down. There's no question BRCM will be way north of 200 a year from now, the trick is picking the bottom.

My GTC is at 105, think that's an excellent price for a company growing at their pace.

FWIW, Fibonacci Projection/Retractment Levels BRCM based on (11/17/00) prices

Open High Low Close
142.75 151.00 127.81 133.00
21-Day Hi 227.50
21-Day Lo 127.81
Projection 3 177.28
Projection 2 165.35
Projection 1 151.03
Retractment 1 127.56
Retractment 2 104.10
Retractment 3 89.78
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