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Technology Stocks : ACT NETWORKS
ANET 129.83-0.6%Jan 16 9:30 AM EST
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To: stan s. who wrote (756)6/23/1997 8:30:00 PM
From: Matthew Ghilarducci   of 2326
 
Stan, sorry for the delay.. moved last week and have been incredibly busy.

I held off on the first buy signal for many reasons, but it mainly boiled down to a hunch. I didn't buy then, but I did buy today at 15 3/4. It was a very close decision, I almost held off again numerous reasons (Stochastics (7,5) never dipped deep into oversold, 1/8 gap still unfilled, and ANET usually follows the Bollinger's for a while before a turnaround). In the end I decided the postives outweighed the negatives and I made the purchase, however if I had had time to watch the market this morning I certainly would have held off. But I placed my buy limit @ 16 and drove to work---ACK--live and learn.

Predictions/anaylsis

ANET will fill the gap that occured on 5/2/97 intraday tomorrow (hopefully intraday). We have very strong support @ 15, and if we close below that on heavy volume we might hit next major support level (10) before a turnaround (If I wasn't so heavily margined & so cash poor I might be happy about that fact). Good resistance @ 17.5 (trader's remorse during the last week of May).

Positive notes:

1) I find much comfort in the declining volume during the downtrend. I think the selling is almost done.

2) Earnings are coming. Past history of ANET shows 10-25% jumps in price the two weeks before the announcement.

3) If the anaylsts are correct in their earnings predictions (IMO they have underestimated) then ANET is dirt dirt cheap.

Good luck all, happy trades.

MG
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