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Technology Stocks : Storage Dimensions - STDM
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To: Sparky Beardslee who wrote (69)6/11/1997 7:47:00 PM
From: kvogel   of 311
 
Funds didn't own too much of the stock to start with. I believe most blocks are already unloaded. Clearly the MM's controlled the market today and they picked up stock at 5 5/8 and sold at 6. There weren't many trades in between. This stock won't follow the rest of the market during an interim correction because most sellers have already left. There could be an intraday move down to the 5 level but you'll have to be fast to get any stock in that range. I believe the stock is basing out and the MM's always get stock on slow days during this period. I don't see 7 as a major resistance area based on my charts. I see it as a low level resistance area since most investors who haven't sold are going to wait for much bigger moves i.e. 10 and above. The sellers who are impatient are unloading now if they haven't already. The slow basing out period causes the remaining weak hand sellers to dump when they don't see a substantial "dead cat bounce". All will be well in a month or so.
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