K-Tel (KTEL) Have the cheesy '70s records come to an end? Message Board

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Technology Stocks : K-Tel (KTEL) Have the cheesy '70s records come to an end?

KTEL 0.270

+8.0%

Dec 1 9:39 AM EST

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To: James Nephew who wrote (1672)	5/5/1998 5:49:00 PM
From: marie fouchia	Read Replies (2) of 3203

Just for fun, my take on tomorrows action is that a whole new set of buyers will move in and zap up the shares that are sold by panic sellers. This is what happened this AM when it dropped to 57. Part of the reason for the selloff is that on day-trading alone the stock had a 20 point range, and what day-trader wouldn't take that kind of profit in one day. It is important to note that KTEL still closed positive, while most of the internet stocks were negative today. I don't think the run up is quite over yet, though the extreme volatility signals that the "top" is near. My wild guess is that if the morning selloff remains higher than 57 (today's low) it will draw in buyers to run it up somewhere to the mid 80's, and then it will crash big-time, perhaps NEVER to return. Any other guesses?

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