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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE)
SIII 0.00010000.0%May 12 5:00 PM EST
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To: MarieS who wrote (12397)12/17/1998 3:28:00 PM
From: Don Earl  Read Replies (3) of 14577
 
Hi Marie,

<If anyone knows who these buyers are, let us in on it.>

So far there have been 7670 trades today with an average trade size of 830 shares. I don't think it's too hard to figure out who's buying. At least institutional buying can be pretty much ruled out.

Anytime volatility picks up, you can expect volume to pick up. A 3 to 6 percent trading range means big profits to day traders and 30 minutes is considered a long term investment. You can figure that most of the stock that has been bought in the last few days got dumped this morning and has changed hands many times already today.

As a rule of thumb, I usually treat news as a three day wonder. Expect another gap up in the AM when the part time players get home from work and start calling their brokers with market orders for the open. The excitement tends to wear off over the weekend as they take time to read SEC filings and look at three quarters of losses. There will probably be about 10 minutes at the open on Monday for Fridays buyers to get out at break even, then the profit taking kicks in.

Longer term, it's a huge break out on volume, in the middle of an up trend. It still needs to break through the mid 8s to call it a momentum play but it does seem to be pointed in that direction. We'll see.

It sure would be interesting to know what patents are involved. If INTC gets to use all of S3s graphic patents to beef up the i740, S3 may have sold Manhattan for $28 and a case of whiskey.

Regards,

Don
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