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Technology Stocks : PLASMA THERM (PTIS)
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To: Dave Sullivan who wrote (142)10/2/1997 10:58:00 PM
From: TA Trader   of 509
 
Dave, sorry for the late response, but I have been traveling and haven't had time to respond. I have looked at VectorVest before and my approach is very different than theirs which may not be so bad as they seem quite bullish on PTIS. In a nutshell, the fair value of $14 which VV places on PTIS is a value which VV arrives at by inputing fundamental information i.e. earnings, PE etc. My approach, while always being aware of the fundamentals of a company, merely used technical analysis (a history of the past action of the stock to better determine the future price action). A number of prime indicators that I use involve Volume indicators i.e. increasing vol. on upside, decreasing vol. on downside, Accumulation/distribution patterns etc. I bought because the stock broke through to new highs on heavy volume thus setting an all time high. The news (fundamentals) are strong and therefore this stock should continue its upward advance for quite some time. Having said all this, the recent 1 week move from 9 to 12 places the stock in a slightly overbought condition and possibly ripe for a little profit taking (consolidation) which will be healthy and prepare it for its next move higher. $14 should not be a price objective for anyone as it appears that PTIS will be moving much higher over time. They have a new product cycle and you would want to stay long as the company benefits from these new products which should translate into significantly higher earnings and thus result in increasing institutional interest. I'll continue to post my feeling on PTIS from time to time. Good luck to all.
What A Country!
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