Fastcomm FSCX (6 1/8), base now complete. Big Upside. Message Board

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Technology Stocks : Fastcomm FSCX (6 1/8), base now complete. Big Upside.

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To: Alan Aronoff who wrote (405)	12/10/1997 11:09:00 AM
From: Rick Smith	of 802

Alan: Actually, based on my TA, FSCX was a screaming BUY yesterday! The reason is that I have used Bollinger Bands on FSCX quite successfully when I was trading the stock. I went back to my chart and if you overlay these bands on your chart, you will see the same thing I saw. The top band was violated the previous day (Monday)and stock should have been sold at 3 7/8. The lower band was violated yesterday and stock should have been bought at 3 1/8. I have back checked this strategy repeatedly on FSCX and find that over the past 18 months, traders have made out very well indeed with only one losing trade, even in the face of the stocks decline. I only wish I had listened to my own advice instead of becoming an investor in this one. (G) The bollinger bands will begin to widen now as such a large swing in the price such as we had yesterday will have that effect. I've spoken to the block trader at the brokerage firm (he doesn't make a market in FSCX but did BUY a little at 2 7/8 yesterday) and he maintains the story he told me yesterday is correct. The MMers in the stock saw who was selling and when they were putting in market orders to sell, they dropped the price to see how far they would let it go down and still sell. We have a wee bit of strength so far this morning on average volume. I guess we'll just have to wait. Good Luck. Rick..

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