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Technology Stocks : Xicor ?
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To: Emile Vidrine who wrote (375)7/7/1996 4:32:00 PM
From: dppl   of 2920
 
" Do you think it would be a good buy at between say 7.5 and 9. If we get an earnings supprise on the down side--even if its only 1 or 2 cents watch out."

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What I'm saying is that next week should show where real support is. I haven't studied all the intraday charts but there hasn't been much real testing recently. In the third week of June we had a 9 5/8 intraday that seems more related to end-quarter re-alignments than to selling pressure on XICO.

The basic question is this: who were the people buying on the jump from 8 to 12? If they were big block buys then you can imagine the support is going to be stronger. If they were small block buys then we'll most liekly find support at the 6-8 level. There was reasonable volume during 5 of the rally days March 29-May 3 (5 days with over 1M shares in the period), which suggests support, if these were institutions rather than momentum players and traders.

Right now I don't know if 10 1/2 is a good entry point, because I think you have a 40% chance of getting it cheaper before earnings and a 80% chance of getting at this level (10 1/2-12) or a lower level before during the next 2 weeks. Support is ill-defined now. It could be right here but if it isn't it will be at 6-8. (No accummulation history in-between.)

I am assuming that earnings are at or above expectations.

good luck

dppl
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