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Technology Stocks : THQ,Inc. (THQI)
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To: Sigmund who wrote (2581)12/16/1997 3:10:00 AM
From: Raymond James Norris  Read Replies (1) of 14266
 
>>Where are our TA people? Quite a bit of volatility. What does this mean?<<

Sigmund:

As always, I must state I am not a technical analyst (yet ) but do have some experience. Today THQI dropped fast and hard to 17.50 early going on less than 10k shares. Without even looking further into the story, it obviously wasn't a major movement by shareholders. There wasn't a large enough crowd leaving this stock to make me panic.

What is encouraging is that it hit 17.50 and bounced right off of it like flubber. Very encouraging. The close at the high of the day is also a major plus. A high that was achieved towards the end of the day and not established in the morning. The major volume didn't come until *after* we bounced off 17.50. It definitely seems to be nice support.

What happens here on in is a bit dependant upon the market and THQI's industry. As many have pointed out, the entire industry is doing terrible except for THQI. Some of these other companies, while they may not be the best of investments, are ridiculously too low right now. And since 75% of a stock's move is due to the market environment and the industry with which it resides, simply staying above 17.50 right now is bullish to me. If we were to test 20, unless we've got at least 150% of average daily volume, my bet is that it would fail.

Conservatively Yours,
Raymond J. Norris
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