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Technology Stocks : Newbridge Networks

NN 12.51

-1.0%

3:59 PM EST

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To: pat mudge who wrote (4332)	5/1/1998 4:23:00 PM
From: Brett Nelson	Read Replies (1) of 18016

Pat - I think you made a good call. I was happy to see the pullback this morning: 1. Light volume and small blocks, this was not institutional money flowing out of the stock 2. "Filled the gap" from yesterday's strong opening. I hate to see a bullish ascent full of gap openings; it is often indicative of unsustainable buying. Since stocks tend to "fill gaps", I would rather have it filled now then a few days from now after the stock has traded higher (hopefully). 3. We closed on a good pivot point. Remember $29.25 was a former resistance level on 4/20 - 4/21. Let's hope it now acts as a support level. We'll see what the next week brings...Any thoughts on what impact CSCO's earnings release might have on our good friend NN?

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