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Technology Stocks : Adaptec (ADPT)
ADPT 18.51+0.6%3:59 PM EST
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To: Ahmad Ascha who wrote (2617)6/12/1998 12:56:00 PM
From: slob  Read Replies (3) of 5944
 
AA in this market it is almost impossible to predict the bottom.

When I look at ADPT I see a stock that is VERY weak technically and Has some fundamental valuation question that no one can answer. It is in a very weak sector so no one is running in to "buy on the dips" I can't see any turn-around until we reach some fundamental support levels. It seems to me that the next Fundamental level that will offer support is at about $9.50, but before it heads this low we will need to break through a couple of big technical barriers.

I'm sitting on the sidelines waiting for a clear signal that SOX bottom fishing season has started. I got a few high tech Shorts running apart from that it's all cash.

Slob
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