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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Karl Drobnic who wrote (17234)5/20/1998 6:57:00 AM
From: Mr Logic  Read Replies (2) of 31646
 
Karl, not wishing to be picky but you seem to be adjusting the theory to fit the facts:

April 1:

To: +JDN (13837 )
From: +Karl Drobnic
Wednesday, Apr 1 1998 11:38AM ET
Reply # of 17239

TAVA price: It's showing a footprint. It has made 3 steep runs since last July. The first
run started around $2. The second started around $5.25. The third started around $9.
Measure from the beginning of the run to the high for the run. TAVA's footprint is to
pullback about 40% of the run. The latest run was $5.63 (or so, depending how you
measure it). So a "normal" TAVA pullback would be $2.25 from the high for the latest
run. That's why I bought more when it dropped under $12.50 a couple days ago.

May 19:

TAVA has made two distinct "runs". The first was from $1.50 to $7.63, for a gain
of $6.13. It then corrected a Dec. low close of $4.94, giving back 44% of the first
run. The second "run" starts off the Feb. close at $5.25 and continues to $14.88, a
gain of $9.63. If we give back 44% of the gain, we give back $4.24, so subtracting
that from $14.88 brings us to $10.63, closing basis. So far, Tava is repeating itself.
My rule of thumb is to expect small caps to give back 40% of runs. If they give
back more, examine the story and make a decision. That's what I did last night. I
continued to add to my Tava position today.

By the April 1 "footprint" theory that I queried at the time, the stock has pulled back 70%.
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