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Technology Stocks : STAR Telecommunications (STRX)
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To: Terp who wrote (371)9/9/1998 2:06:00 PM
From: Spaw  Read Replies (1) of 780
 
Terp,
I'm going to give you a little technical briefer here.
STRX moved 27% to the plus side from the low close of 10 1/2 on August 31.
Today, as I write this, the stock is down around a dollar from yesterday's close. That is about 7.5% (-). Volume is average.
As I stated in my post yesterday, I expect a slight move down today, potentially tomorrow and Friday as well.
This is not unusual activity in equity movement. Stocks trade that way. Up..down..up..down. A stock has to digest it's gains, the market makers have to adjust their inventory. It is expected.
What you have to watch for is a higher low after the retracement. Something above the 10 1/2 dollar level. I expect it to be around 11 1/2 to 12.
This movement is normal. The stock is NOT giving back multi-day moves. It would have to tank to 10 for me to say that.
If you want to hold STRX you will have to be patient. It will be a while before the upward momentum resumes.
I personally am looking for the fourth quarter to signal a new trend.

Just my $.02,
--spaw--
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