MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

-0.1%

Aug 15 5:00 PM EST

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To: JFTRADERS who wrote (10973)	10/27/1998 2:04:00 PM
From: Bruce L	Read Replies (1) of 42804

The question as I see it: Is the decline this morning just normal retracement of a good pre-earnings runup? Or has management leaked information to the large players of disappointing earnings or CC? On the negative side: we've had pretty substantial volume on this latest decline. Much more than I'd like to see. On the positive side we've put in a double bottom and since the last low on Oct 9 the stock moved up more than 3 1/2 to close yesterday at 9 1/16. This is "only" a 50% retracement which is normal. During the last runup in MRVC's share price (Sept 21-23) we couldn't get through resistance at about 7 5/8. If we can hold above that figure today (previous resistance becomes support) I think the probability is that this action today is just nervousness and does not foretell bad earnings and/or CC on Thursday. Just thinking out loud. Bruce

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