S3 (Multimedia semi's place 2be) Message Board

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Technology Stocks : S3 (Multimedia semi's place 2be)

SIII 0.0001000

0.0%

May 12 5:00 PM EST

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To: James T. who wrote (9070)	5/29/1997 11:32:00 AM
From: steve goldman	of 9477

It is important that we not lose grasp of reality, that it is NOT normal for a $10 stock to move to $13 in two days. Thats a 30% return for those fortunate to buy in at 10 or lower. I would not expect this stock to keep moving 1 1/2 points a day. As evidenced by this mornings activity, it will subcomb to profit taking. Profit taking is healthy as long as we can accomplish it without retracing too much ground. THose who paid $9 or have any profit are questioning the sale of their stock. The dow is down 21, ibm is down 2, intc down 2, almost all semis are down. That this stock has only retraced 3/8 at this point is not great but not overly disappointing...it will be important to stay above 12 duruing any profit taking today or tommorrow. My feeling is that given the recent news, yesterdays, we may see a few analysts bump up some numbers which is positive. Remember for every sale today, there is a buyer. Someone is buying all those shares today. Quite simply, given its run in the past two days, noone is jumping on shares. But this is standard and siii will rally again once profit takers get out of the the way....... Good hunting.. steve

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