MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

-0.1%

Aug 15 5:00 PM EST

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To: Dr. Doktor who wrote (8486)	4/29/1998 7:26:00 PM
From: J. Conley	Read Replies (2) of 42804

Dr., The stock was up more than 25% in the last two weeks, from around 23 to a high of 29. What did you expect? A straight line move to the mid-thirties at a time when the overall market is "correcting." There is significant resistance in the high 20's and the stock was extended on a short term basis. Given that, and the general market decline, it's no surprise we have a retracement of the move. Since the lows in December and January, the stock is now trending up, not down, and I just think a retracement down to support on light volume is completely ordinary. Particularly in this market environment of the last few days. Probably a good buy opportunity. (We all have our opinions.) I think it highly unlikely we go to 23; I see support at 26 and would be surprised if it goes below. I am sure many lurkers and regular posters see it this way also, for isn't this just really really fundamental stuff. jc

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