Firstwave Technologies, Inc. (FSTW) Message Board

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Technology Stocks : Firstwave Technologies, Inc. (FSTW)

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To: Roger A. Babb who wrote (324)	1/29/1998 5:16:00 PM
From: Brett Nelson	Read Replies (1) of 1205

Roger- I am not sure how to read the tea leafs on this one but I nonetheless increased my position in BROC today. Like you, I am bullish on the long run prospects of the firm and am hopeful that we might see some pre-earnings price appreciation. Moreover, the large increase in volume and trade size suggests something is going on. In my opinion, it would not have been that difficult to beat the stock back below $5.00 given its large up-move yesterday (particularly since the stock has not been able to hold above $5 for some time). It appears someone, whether accumulating or distributing, has an interest in supporting the price at $5.00. My only clue as to whether this behavior was bullish or bearish stems from the fact that I had a limit order to purchase at $5 working all day and could not get filled. If someone was distributing in the face of a big drop, surely they would have grabbed my order. Anyway, I guess we will have to wait and see.. Brett

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