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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: ED PLOPA who wrote (5550)10/23/1997 12:43:00 AM
From: KOVICH  Read Replies (2) of 42804
 
PLOPA & friends,

As long as the market dosent get smacked too hard, I believe we are setting up well.

Market looked very resiliant tuesday and digested the 100+ gain very well on wendsday. I was surprised to see such a good showing by MRVC tuesday but then again csco is makeing new highs and that speaks loudest for the group.

I believe we saw the bottom at 33 3/4 unless the dow gets wacked but I dont see any major bloodletting.

1) MACD lines are very oversold and close to giveing fresh buy signals.

2) Directional movement indicator gave a new buy signal
( VERY IMPORTANT IMHO)

3) Bear Stearns is Issueing an extended report on company.

4) Bloomberg shows block accumulation and non block acc.
throughout this entire pull back. (VERY BULLISH)

I look for a retest of the highs on or before earnings.
An extra 10 cents to the bottom line should justify 2 to 4 dollars more on the stock at least, not too mention that the PE will show positive earnings with fiberonics charge falling off the trailing 12.

I know a smart manager who has been bidding and buying as the stock sells off. The best way to add more to a big position if you are a fund.

There is no cabot hype or table pounding analysts pushing the stock right now because there is still plenty of room for the fundamentals to take care of the stock price andÿplenty of buyers at these levels IMHO.

Utilities made another new high which should indicate that rates will move lower again.

Relax
KOVICH
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