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Technology Stocks : Trimble Navigation
TRMB 80.52-1.7%3:59 PM EST
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To: SKIP PAUL who wrote (2531)6/18/1998 9:06:00 AM
From: Richard Singer  Read Replies (1) of 3506
 
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I agree that the current higher volume probably includes some major new positioning.

Trimble's response to the II suggested to me that I should think conservatively about earnings expectations for the balance of this year. That flavor of press, coming from other companies that I own, has led to big-time selloffs in some of those issues.

But after the II 'sell' became public last week, there was pretty good balance around 17 most of the next a.m. Then the market took the 2+ point hit and spent the rest of the day recovering. Almost a week later, in a mostly nightmarish market, the stock held its own.

But this is not the kind of stock that participates on a market turn-around day.... the top tier got all the action. What happens to TRMB when the smoke clears should be more indicative. Technically, the chart looks lousy. But an immediate retracement to 18 or so, will clean that up nicely.(lets hope).

Good luck,
Richard
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