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Technology Stocks : Network Associates (NET)
NET 182.78-2.2%Jan 9 9:30 AM EST
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To: Joanna Tsang who wrote (3565)11/19/1998 11:29:00 AM
From: David Rubin  Read Replies (1) of 6021
 
Market makers were probably trying to clear some stops. The stock has been consolidating nicely over the past few weeks on lower volume. This is a good sign in general, but with the NASDAQ racing ahead you would expect NETA to do a little better. Still, there is no need for concern yet.

Ideally NETA will bust ahead by 2-3 points or more on big volume soon, clearing resistance at 49 and setting the stage for a rally to new highs. But if instead it makes a move to the downside on above average volume it would be a bad sign, possibly precluding a move back to 40.

It's certainly a fun stock to watch...
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