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Non-Tech : FITB (Fifth Third Bancorp)
FITB 41.62-0.8%Oct 31 9:30 AM EST
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To: Ross who wrote (20)8/15/1997 12:33:00 PM
From: Ron Kory   of 68
 
Hi Ross,

Recall on May 11 we discussed how PTEK had complete a five wave
advance amidst bullish sentiment surrounding their quarterly earnings
announcement. Since that time the stock corrected to 22 and recently
staged a sharp rally accompanied by large volume (see July 28 and 29).
Moreover, there was some good option volume during this period. After
announcing earnings the stock has again pulled back to 26-27 from 30.

If our initial analysis is correct this should be the beginning of
Wave 3 of 3. I'd like your thoughts.

Hope all is well.

Note: If you go to PTEK's thread either at SI or AOL you will see
that my feelings on the company's fundamentals have shifted to a more
neutral stance. Frankly, discussing the fundamentals are entertain-
ment for me and I try to ignore them for trading purposes. Currently
the set up is potentially very bullish if the Wave Theory is correct.
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