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Technology Stocks : Novellus
NVLS 2.400+2.1%Jul 24 5:00 PM EST

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To: Howard Bennett who wrote (1564)7/22/1998 3:04:00 PM
From: Jim Willie CB  Read Replies (1) of 3813
 
a key weekly reversal is in progress for NVLS... if it closes Friday under 37, then Katie Bar the Door... hit 40 last week and closed almost three lower that day... hit 40 yday and closed almost two lower... started the week at 36-7/8... big traders take note of key weekly reversals... this company does have strong mgmt and leading products, but the stock price has just been manipulated up on a technical reflex rally that many many amateurs bought into... too bad

no way in hell does this stock have the right to trade at a higher multiple than many chip stocks that are falling now

that sucking sound is all the traders heading out for summer vacation... Book/Bill in a couple weeks should provide a slap in the face wakeup call

but then again, my perspective is usually altered when my balls are in a vise, holding option puts to sell at 35

/ Jim Willie
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