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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Kelvin Taylor who wrote (131)	2/7/2002 12:09:43 PM
From: Joe Stocks	Read Replies (1) of 787

>you going long on GNSS on the dip? < No. I don't mind a "first strike" on a short in a bear market but I tend to let others go first on longs in a bear market. I saw your post on "Z-Board" on GNSS. I can't agree on GNSS being a good long. I'm more of a value player so I have problems with a company selling at 8-9 times sales especially in the tech arena where new technology and competition can whiddle away at your niche. Today's action tells me that this is more than profit taking. Something fundamentally has changed. It may be the competition from STM and the resulting cut in gross profit. I'm not a techie so I don't know how much of a grip they have on what they do. I don't think I'll be buying. At this point for a trade it looks better to me to short at resistance. Support levels were too easily broken today.. Just my opinion, Joe

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