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Technology Stocks : QUANTUM
QNTM 8.760+7.9%3:57 PM EST
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To: tom pope who wrote (5808)11/29/1997 7:42:00 PM
From: Rob S.  Read Replies (2) of 9124
 
I kinda think we will get more upset in the market before there is a strong move to the upside. Some investors who bought into high-tech stocks recently on the theory "buy on dips" have been burned and may still panic if we get more bad news or just trend down to the point where they finally puke up their shares. We need to burn off the speculators and others who can't stomach the volotility.

Now might be a great time to put in orders at "distress sale" prices along the lines of "If some fools panic and it sells down x% (pick a number based on TA or your knowledge of the stock), I'll be happy to take it off their hands." A good barometer is when people on the SI threads are posting doom and gloom (how they need to sell stock to meet margin calls, or that their wives are ready to divorce them because they have speculated on a second mortgage). Maybe we will reach that point in the next week or two, my crystal ball has been a bit cloudy lately.
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