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Technology Stocks : Rambus (RMBS) - Eagle or Penguin
RMBS 95.26+3.1%Nov 14 9:30 AM EST
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To: Rosemary who wrote (10426)11/26/1998 8:48:00 PM
From: wily  Read Replies (1) of 93625
 
Rosemary,

I think you are right. I think RMBS goes higher before it goes lower. We will probably see a double top in the 89-93 range, but this time it will hang there a while. Then a pullback with a bottom of 81-83. Anyone who wants to get in lower than that has to hope for a significant market correction before RMBS clears this present range (80's). Otherwise a market correction would bring it back to this range AT BEST. RMBS blew through the 70's, left a gap unfilled and made a liar out of a bearish candlestick. Bad manners RMBS. Spooky, and now spunky. What will be the next leaf you turn?

Do we get a correction? The bears on the Michael Burke thread, who can be counted on for the gloomiest of the gloomy outlooks haven't been counting on one 'til post-Christmas.

My presrent position was established at 68, 71 and 81. Like unclewest says, I was averaging up and happy about it. I feel pretty certain about the double top, less certain about the pull-back to 81-83, just because of the hysteria in neighboring sectors. RMBS may cease to act "normal". My next buy may be at 91. It's easy for me because I don't have tens of thousands of shares to put on. How I pity those that do...

>>I've seen this happen before with other companies

I'm curious what stocks you're referring to.

Thanks,
wily
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