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Technology Stocks : IDTI - an IC Play on Growth Markets
IDTI 48.990.0%Mar 29 5:00 PM EST
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To: PuddleGlum who wrote (6334)2/9/1998 3:11:00 AM
From: Rob S.  Read Replies (2) of 11555
 
I don't often use the five minute charts to predict where the general trend of hte stock is except when a strong trend seems to have asserted itself. You can, for instance, sometimes spot a key refersal in a stock: large movement with heavy volume that takes out the prior trend. You can sometimes spot unusual activity, such as when large blocks are (aren't) trading when that (is) isn't typical. That pften signals action by institutions and can confirm what you are seeing elswhere. For example, during IDTI's conference call I got the impression that analysts were focused, as I expected them to be, more on the long term outlook than just on the immediate quarter's results. That is usually a bullish signal. Soon after the volume in IDTI started moving up and comments tended to be bullish - mildly favorable short-term and very favorable longer-term. The dailey trading can confirm or question your thinking about the stock.

IDTI has shown pretty good price action in the last couple of trading days. The volume of large block trades tappered off considerably from the previous few days but the price did not pull back very much. I think that the overal market for semis is vulnerable for a mile pull back. The trend on the other hand is still positive and it could run further before the profit taking steps in.

Maybe I am overly cautious at this point but I still think that there is more jitters in the market due to the Asian Flu and other concerns. I think there may be another partial re-test of the lows of a few weeks ago. I could be wrong on this so go with your own assessment.
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