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Technology Stocks : General Magic

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To: John Madarasz who wrote (9476)	4/28/2001 5:54:38 PM
From: James Strauss	Read Replies (2) of 10081

Back Over 1.00... *********************** GMGC is quietly moving above its Linear Regression lines... First the 8 day line... Then the 34 day line... Now it's right on the 89 day line... The significance of this is that these are natural Fibonacci numbers... As each range of Linear Regression lines is bested to the upside we have a slowly growing positive momentum of positive price movement that's normally not perceptible until a big breakout day... What we are seeing is quiet accumulation... The 50 day MA is in the 1.25 area... The Microcap funds that do buy low priced stocks will begin to take notice at that point... bigcharts.com After that, the 2.00, 3.00 and 5.00 areas should be tested... You don't have to go back too far to see that the 8.00 area is within reach after a successful test of the 5.00 area... bigcharts.com If the Revenues continue to improve with Earnings visibility in sight, we could very well test the 18.00 area again for a double top test... If the fundamental picture looks like it's improving going into such a double top test, we could have a real rocket on our hands... First things first... We should see GMGC continue to march through the various 2.00, 3.00, 5.00 and 8.00 test areas before placing any orders for a new car or boat... : > Jim

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