Presstek -- Stock of the Decade?? Message Board

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Technology Stocks : Presstek -- Stock of the Decade??

PRST 0.0001000

0.0%

Sep 29 10:16 AM EST

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To: william bowden who wrote (1044)	8/1/1996 9:45:00 PM
From: Richard F. Hubbell	of 11098

William - I see the tension in the stock price building. It wouldn't seem likely with the incredibly slow volume of about 73000 shares today, and the narrow range in which it moved - but technically speaking there is a lot of tension in the stock price right now. This happens when 'the resistance' at 54 hits up against 'the support' at 52. The resistance is dropping and the support is rising. What that means is that the sellers will have a trigger sell price closing in on the trigger buy price for the buyers. When the two things meet - watch out - it can move very rapidly! Technically speaking the chances are that this move will be down. But many people don't use charts as their exclusive tools - although most professional investors use them to decide as many as 90% of their trades. So you be the judge. The lack of an up move at the open let the air out of the news release about the application of PEARL to web presses. The lack-of-volume or even light-but-definite buying indicates that people must have generally decided that it wasn't a factor in the stock's price. Anyway that's how the votes came out. You may want to place a stop-loss order with your broker - although some brokers won't accept stops on PRST because of the volatility. Schwab used to accept them but has since stopped doing so. A stop-loss order would give you some protection 'just-in-case' it drops like a pair of 29 cent socks, given the tension it. Of course, there is a small chance that it will break out rapidly on the up side, but in my view this is unlikely due to the power of the selling and the weakness of the buying - especially in the last two weeks. I guess we will just have to wait for someone who is knowlegeable to express a technical opinion on the news release - but in any event it doesn't look like it is going to affect current stock action, at all. Take care, RH P.S> Perhaps Jim G., Mike M. or Steven B. (are you still with us Steven?) or others, would care to comment technically about the stock price so that more than one view is being expressed here.

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