QUANTUM Message Board - Msg: 3083718

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Technology Stocks : QUANTUM

QNTM 8.300

-4.5%

Dec 26 9:30 AM EST

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To: Gottfried who wrote (6906)	1/3/1998 10:50:00 AM
From: Mike Harvey	Read Replies (1) of 9124

Helluva bullish candle Fri. Breakout from a mini (3-week base). On Thurs, the Bollingers had reached their tightest squeeze since Oct 22, aka Doomsday, indicating an impending large move one way or the other. Friday's action now tells us in spades which way we are going. Confidence in this direction is increased greatly by the fact of Friday's strength in the entire sector. However, note Fri's close poked its nose above upper Bollinger (tho only slightly);this can mean that Fri may have been a little on the disproportionate side, and that therefore on Mon you could see a pullback, at least early on. Stochastics show a positive escape after being knotted together past 7 weeks; very good sign. RSI blasted through its 3-month downward trendline, and I mean blasted; however still under 50; need >50 for a confirm. Net net, I'm 90% convinced a reversal has occurred. Kinda would prefer a lower open and a small pullback early Mon to a gap to the upside; if we get the former and a subsequent rebound by EOD, then fasten your seatbelts. If Monday's iffy, however, then the reversal is iffy and we'll have to make a new judgement at week's end.

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