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Technology Stocks : Legacy Storage Systems Inter. Inc-VAST 1500 Gig
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To: Neil Leckett who wrote (50)11/26/1996 10:35:00 AM
From: Frederic Borgatta   of 64
 
While it is true that there is resistance at the levels you mention, the breakout was not accompanied by high volumes. The runup has been on low volume only. There is no short interest in the stock, so it is hard to tell who these purchasers are. Insiders? Who knows. If the stock reaches any of your breakeven levels, I would bail out and count your blessings. From a technical point of view, it is too premature to buy the stock at this point. When LEG starts earning some money (who knows when) for a quarter or three, that's the time to buy the stock. There will be enough of a runup at that point to satisfy a need for a return. Buying it now on the basis of a recovery story is pure speculation. I've got a little left only because I was too stupid to read my own charts and sell shortly after I bought it. So deep down, I'm hoping for the best, but fully expecting the worst. Cheers.
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