(LVLT) - Level 3 Communications Message Board

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Technology Stocks : (LVLT) - Level 3 Communications

LVLT 53.63

0.0%

Nov 1 5:00 PM EST

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To: TigerPaw who wrote (1110)	7/9/1998 5:50:00 PM
From: SDR-SI	Read Replies (2) of 3873

TP: The "around 70" level is one at which many people got into the stock just after is separated from Keiwit. The stock then went up significantly in the initial euphoria, then dropped through the 70's and 60's into the 50's very rapidly. I believe that a technical analyst would indicate that there is a lot of overhead at this price level that must be "taken out" before the way is clear for the price to advance. That is not to say that there is not someone building a position. The technical behavior at such a level, however, is often attributed to those who "jumped in" for a ride upward, got surprised by the rapid downward movement, and then have said to themselves, "If I ever get back to the price I bought at, I'm out of here". Meanwhile, the company is going ahead doing all the things it said it would ... and doing them aggressively and with creditable suppliers and partners. Steve

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