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Technology Stocks : General Magic
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To: Carbo who started this subject1/6/2001 6:08:44 PM
From: lilbully   of 10081
 
Do a 100 day comparison chart of GMGC and CSCO.
It looks like the tide of the market has more control over GMGC than its fundamentals do. Obviously GMGC is more volatile than Cisco but the general direction is quite clear, Especially from December 1st thru Fridays close.
GMGC began moving up early this week while the Nasdaq was falling. I thought that was a signal something was in the works. In retrospect it only makes sense that shares were being accumulated on the inside news that Markham was stepping aside. If this is true, somebody must have thought this move would improve GMGC's hand.
GMGC made her big move Wednesday before Greenspan spread the fertilizer.
See 15 min. chart.
The Fed. cut rates after 1:00, Magic was already losing some ground at that point but gained most of its lost ground back and leveled off by the close.
The Fed's move prevented the profit taking that most likely would have occurred in the afternoon until the market realized on Friday that this move might actually mean this slowdown we've all known about for the last 4 months might be real. Is this news to anyone? Par for the course Magic over compensates. Down 20%. All in all not a bad week.
The best stocks are the ones that are going up.
GMGC has been a very bad stock but I think this may soon become a very good stock.
I think fundamentally GMGC is in a stronger position now than she was when she was $18.00. Gee that was when the Nasdaq was over 5000 wasn't it?
An incredibly volatile stock in an incredibly volatile market. Short of some catastrophic world peace I think there's some money to be made here.
KiK IT
LILBULLY,BEAR.
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