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Technology Stocks : PairGain Technologies
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To: ROCK who wrote (4454)6/17/1997 11:32:00 AM
From: MarkM   of 36349
 
ROCK: I think I know why it's so weak, but I'm not positive. I've seen this kind of action before in RDRT. Some stocks make a high-inertia break (like PAIR over recent trading days). They thrust up each new day. Common sense says that PAIR should test it's old high of about 22, and possibly go to 23 - 24 on intraday highs before trending down again. Same with RDRT ... it should have gone to 24 - 25 but stalled at about 22. Then a day or two later it mysteriously picked up again and made it to 24- 25. I attribute this to the aggressive momentum players jumping ship to latch onto the next fish. They play the 80/20 rule. No need to stick around in a slow-moving stock when there are faster ones. But after they've left (and the stock has wobbled) it picks up again and makes the expected highs.

This is my GFDD (Gut Feel Due Diligence).
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