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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Ron McKinnon who wrote (47495)	4/4/2003 8:36:50 AM
From: DanZ	Read Replies (3) of 53068

It's interesting that the PSFT chart didn't really telegraph a miss of that magnitude. While the stock underperformed the S&P 500 and Nasdaq throughout March, it followed the big software companies around (e.g. ORCL and MSFT). PSFT filled a gap at about 15.90 and rallied. I played that move. The stock then came back to the base in the low 15s and rallied over 17. I played that move for another small gain, but obviously didn't pick the high or low. I'm just glad that I'm out of my long! The stock has traded between 13.75 and 14.90 premarket with most of the volume between 14.35 and 14.50. The fact that it isn't down more on a 40% revenue miss could mean that it was mostly discounted. I'm not messing with it today. Want to see where it shakes out. I'd be more inclined to short it if it rallies back to the previous base near 15.10 than to go long at this point.

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