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Technology Stocks : The Panda Project (PNDA)
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To: Richard Chow who wrote (724)12/23/1997 1:50:00 PM
From: drakes353  Read Replies (1) of 1521
 
Richard:

With all due respect, there is resistance at $5.50-$6. Just look at the chart, you'll see we noodled around in that area for a while. So many people are going to pile on above $5 I don't know if we'll be able to get to $6.

FWIW, short term reversals are often meaningless. For a great example of this take a look at a daily chart of UFEM. Big reversal off of $3 a while back, traded up to $5.75......now at 15/16ths. I was able to get a short off in UFEM during the upward spike at $5.25, unfortunately I covered at $3.125

drakes353
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