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Technology Stocks : General Magic

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To: Scrapps who wrote (2275)	6/16/1998 8:29:00 AM
From: Bellvie	Read Replies (2) of 10081

clearstation.com copy: Ah-hem. We're going to go Long General Magic (GMGC). General Magic has technology everyone wants - voice recognition. General Magic traded for under a buck a share at the beginning of the year, and closed today at around 12 dollars a share. Is this the Iomega of 1998? Quite possibly. Since tripling in price in one day on March 1 (from 2 dollars a share to approximately 6), GMGC has hugged the 13 day moving average like it can't get enough of its love. It is _the_ defining characteristic of its uptrend. Now, GMGC is starting to lift off the 13 day EMA. This offers up a chance for others to feel the love. An incredibly smooth hump below the centerline of MACD Histogram bespeaks of the gradual grace and lack of volatility of GMGC trade during this recent basing period. The MACD lines should cross tomorrow if there is any follow through on todays bullish action. With any luck, the similarity in MACD from the mid-March to mid-April period, will match what is happening now in the mid-May through mid-June period, with the hope that the mid-June to early-July period will offer similar sized gains of the mid April to early May period.

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