ORFR-ORBIT/FR Message Board

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Technology Stocks : ORFR-ORBIT/FR

ORFR 3.500

0.0%

Apr 10 5:00 PM EST

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To: david wolf who wrote (365)	4/19/1998 11:02:00 AM
From: Louis Cornell	Read Replies (2) of 475

David, Soemthing is brewing, and where information lacks, TA can help. Based on TA, Friday's close of $13+ broke long term resistance of $12.75; this breaks the trend line established last August at $31.75. To me, this is significant. The volume was also encouraging, although the selling that hit late Friday was not. However, I would attribute this spate of selling to day traders and short term players closing out positions - you've got to expect a pullback after such a huge move. Since the MMs brought the bid right back from 12.63 to 13.13 in the final few minutes of trading, that also reinforces my hypothesis of the selling being short lived. TA isn't everything and sometimes it fails, but sometimes it can provide clues as to what might come trendwise. regards, Louis

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