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Technology Stocks : QUANTUM
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To: Gottfried who wrote (7214)2/2/1998 8:50:00 AM
From: James L Wood  Read Replies (1) of 9124
 
Gottfried:

I too am encouraged by Friday's action, but am hesitant to get too
excited. I have been watching QNTM for a very long time and am
net positive (though much pain was inflicted by major downturn).

What I have noticed is this. QNTM ALWAYS fills it's gaps. Friday's
action caused an "up gap" of 1 1/4 from Thursday's close of 21 1/4.
Usually, the gaps are filled in one or two days. The large gap down
from the 24ish range in early Dec was technically filled 3 1/2 weeks ago (a little over 3 weeks after it occurred). Most gaps of 1/2 or less (gapping either up or down) are filled same day. Larger gaps 1 - 1/2 points are generally filled within a few days.

I would look for a very good entry point long in the 21 - 21 1/4 range, which I feel proves very strong support in what IMHO is now a strong long-term uptrend.

Jim
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