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Strategies & Market Trends : The Rational Analyst

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To: Greg Butcher who wrote (1094)	6/8/1998 12:59:00 PM
From: HeyRainier	Read Replies (1) of 1720

[ ADPT ] Hi Greg, The key reservation I have with ADPT is that its troubles are not yet behind the company. With earnings forecasted to be weak for the next three quarters, and the following rate of EPS growth to be in the 6% range for the next 8 quarters (compounded), there isn't much value to be had in this issue to warrant an increase in institutional sponsorship IMO. TA-wise, I am looking at this from an intermediate term perspective, and with the price being below some key moving averages and no momentum bottom in sight, it makes me hesitant to consider opening a long position at this current point in time. While I can see the short term signals you mentioned, the primary downtrend hasn't been broken, which exposes you to an added risk that I'd rather avoid if possible. Short term,this could go to the low 17's, where I expect it will encounter resistance from the primary trend line. Good luck, Rainier

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