Vitech America tackles Brazil Message Board

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Technology Stocks : Vitech America tackles Brazil

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To: Anthony Ostroski who wrote (48)	6/20/1997 10:16:00 PM
From: Michael Burry	of 153

As a rule, gaps are filled by a retracement. In true breakaway gaps, they are not filled. Hence, this is not a breakout type of gap. VTCH is filling its gap and has a horrible chart now, but the real test is at 16 1/8. This may be a "bear trap" whereby a bullish run shakes out weak holders by retracing to the old high before resuming. Or it may be the start of another slide. No way to know technically at this point. Fundamentally, the situation looks good, but obviously the momentum players drove it up. Now they have the right to play with it some more. I haven't been able to get a quote or chart the stock the last few days due to a hectic schedule. Looks like VTCH's stock has had some fun. Good Investing, Mike

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