Neomagic Corp. (NMGC) Message Board

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Technology Stocks : Neomagic Corp. (NMGC)

NMGC 0.01000

-36.7%

Jan 20 3:49 PM EST

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To: Eddie Kim who wrote (2236)	12/17/1998 1:12:00 AM
From: vincenzo	Read Replies (1) of 3645

Eddie - Neo is still sitting pretty inside an uptrending channel. The bottom of the channel now sits at $20 1/2 and the top at $24 1/2. The SOX continued to drop since my last post and tested 320 like I suspected and has moved tentatively upward. Neo will only perform well at this point in time if the market helps it out a little. Clinton's little show in Iraq, and the beltway buttheads snorting and hollering, however, makes it unlikely the market can get too frothy in the short term. Then we have the Christmas and New Year's holidays which I believe will distract most traders for a few weeks. The period between Christmas and New Year's is traditionally almost dead. My assessment - flat to slightly down in the short term on reduced volume, unless market madness returns. Hopefully, Neo will maintain it's overall uptrend, but market forces have a way of being amplified significantly in Neo's price action. I think my short squeeze scenario will have to wait for the new year to fully develop. This scenario is as real as ever as Neo still has not given the shorts any opportunity to cover whole. I'm still on the sidelines but watching closely. vincenzo

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