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Technology Stocks : Stock Swap
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To: Andrew Vance who wrote (11151)2/2/1998 9:46:00 PM
From: Trader X  Read Replies (2) of 17305
 
TA of charts never make a stock go up.

Most likely, it was managements decision to buy 3 million shares and the IBD article that producted a nice rally today. I seriously doubt that a post on SI had that much to do with it.

Can TA make a stock price go up? Hardly.
TA is like looking at jet exhaust to determine which direction the jet is flying. The observation in no way determines the outcome in question. Trying to decide whether TA or FA made a stock move is to assume the tail is wagging the dawg (that's how we spell dog in Tejas). While both are means to prediction an end, neither are going to produce the end, at least for a stock like Comdisco.

Now if CDO hadn't gapped up 2 points at the open, we might have had a money making opp on our hands.

I'm thinking the stock should trade back to $34-35 to fill the gap and retest support, allowing a decent entry price before a major move is made.

Unless you just want to pay $37/share...don't let me stop you.

Kevin
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