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Technology Stocks : Creative Labs (CREAF)

CREAF 0.411

+11.2%

Dec 8 12:12 PM EST

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To: Hitch who wrote (8174)	1/14/1998 1:39:00 AM
From: Douglas V. Fant	Read Replies (1) of 13925

Hitch, Well, I'll be- we got below expectations earnings from Motorola and Lattice Semiconductor- yet techs rallied! Remember what we were discussing yesterday and the day before about when stocks start to rally on the bad news, then the worst of the pounding may be over for the tech sector? Most tech stocks still have relatively bearish looking charts- but today appears to be the first day toward putting Asia "behind us." Even more importantly CREAF is an Asian-based stock, and we may be bottoming in Asian markets now- I still think that we'll rattle along the bottom for a month or two through the end of the Japanese Fiscal Year. CREAF reach $22-24/share shortly? Not out of the range of possibility; but remember a good "buy stop" location on CREAF is about $21.90/share just below its last plateau. My guess is that $22/share will be a resistance level for CREAF and that we'll fall back to today's close around high $17's, $18/share and retest that area in our next swing of the pendulum. Since I'm out a January 17.5 call option on 1/2 of my CREAF shares I'll be TSOL if CREAF disappears northward in the next three days.....But I sure can't wish you any bad luck. I'm a tech-a-holic- 100% invested in tech stocks-so I cannot wish any of my friends poorly here! Even if I miss part of this rally the beauty of tech stocks is that month-to-month they are like a hound dog trying to pass peach pits- continually shaking and shimmying around! More rallies will follow.... Sincerely, Doug F.

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