Teletek: Big Earnings About To Be Posted Message Board

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Microcap & Penny Stocks : Teletek: Big Earnings About To Be Posted

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To: who wrote (412)	3/15/1996 4:48:00 PM
From: David Luckie	of 1014

I'm not looking for anything major--just about a 1/2 to 3/4 point pullback and/or a week or two of sideways trading to establish another base. Look at the chart going back 90 days. Every run on this stock has been preceded by a week or so of base building. From 1/17 through 2/2; from 2/13 through about 2/20; and again from 2/26 through the end of last week. Notice how the longer the period of base building, the better the ensuing run in the stock. But there hasn't yet been a run like the one we've seen this week. While this thing could definitely go higher here, I'd say a pullback was in order, and a little time to build another good base would be a really good thing to happen. It would also let people accumulate more shares at reasonable prices. When a run starts, it's good to have a lot of shares sitting in buy-and-hold accounts. Sorta creates a supply/demand problem. ;)

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