Brightpoint - CELL Message Board

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Technology Stocks : Brightpoint - CELL

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To: Paul Shread who wrote (1145)	10/30/1998 4:02:00 PM
From: jgercke	Read Replies (1) of 1999

FWIW, I think CELL is taking a well deserved rest. At this price it is trading about 15x trailing and 12x forward earnings, with a 160% gain peak to trough (5 to 13)in the last three weeks. For us longs, there is a lot more upside to look forward to, but some consolidation of the recent gains almost has to take place. The daily chart on CELL looks toppy, with both Stochastic and Macd looking like they are rolling over. The weekly chart looks decent for the same indicators. A lot of short termers undoubtedly have bailed in the last week or so but the price has held pretty well. I'm going to try to add to my position on spot weakness. My guess is that absent some catalytic news we will be working our way up to 15 over the next couple of months. One other factor is that there are still a lot of cheap stocks out there competing for the investment dollar. Not many have the fundamental prospects that CELL seems to have, but many have been beaten up without the 160% bounce, so opportunistic money might be playing those issues and laying off committing new money the ones that have already had a huge bounce. That said, CELL has performed beautifully for the last few weeks and the current recess does not concern me at all. JG

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