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Strategies & Market Trends : Wang's trading

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To: Gary Yu who wrote (11)	11/19/1997 10:11:00 AM
From: wmwmw	of 20

I am glad I get your response. But be patient. I shorted NSTA mainly from technical consideration. And did you know the stock fell to $14 a short time after my short? I didn't cover because I left. The company hold a conference call during that time to give some bull comments and the stock went back to $16 15/16 at close. The stock is still above my short price but I think it may drop futher. 1. FDA issued a not approvable letter. The decision is not easy to change. Even it changes, it may need a long time (several years?). And in this case, the stock will still fall because there is so much uncertainty. 2. The stock's strengh during these two days was due to some brokers buy recommendations. They always recommend some lousy stock to let their clients to exit. When ESOL fell from $16 to $6, a broker recommend buy and a worth of $11. But the stock went up to $8 shortly then down back to 4s. 3. NSTA company voilated SEC rule and some stockholders already filed lawsuit, which will come to news in a few days, and will hit the stock.( see NSTA thread) 4.The overall market is due a pull back today which will have impact on the stock. 5. From technical view, the stock will fall futher. So, things look to you dangerous are not the same to me.

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