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Strategies & Market Trends : Z Best Place to Talk Stocks
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To: Ron McKinnon who wrote (14479)5/30/1998 4:51:00 PM
From: DanZ  Read Replies (1) of 53068
 
Ron,

With regards to <and all we really have had is a slow drip drip down>

Yes, that is true for the general market averages, but not true for selected individual stocks. Here are a few that I talked about in my post earlier today.

ADPT: 52 week range 54 1/4 to 15 1/16, closed yesterday at 15 3/16 down another 5% and down 37% from it's high in the past four weeks.

NSM: 52 week range 42 7/8 to 15 3/4, closed yesterday at 16 1/4 down 32.8% in the past five weeks.

VLSI: 52 week range 38 13/16 to 15 1/4, closed yesterday at 15 1/2 down 29% in the past four weeks.

While these stocks could get whacked some more, there comes a time when there isn't enough selling pressure to push them lower and buyers see value in them. That's when a base forms on the chart. NSM and VLSI look like they are basing. ADPT hasn't started that process yet but I'm hoping that the lower daily bollinger band will hold and the stock will start basing next week.

These companies are all making money and the market has totally overreacted on the downside by pricing them way below what they are worth. Irrational exuberance works both ways and I think one can make a lot of money by buying these three stocks at today's prices.

Dan
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