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Technology Stocks : Seagate Technology

STX 272.28

+4.0%

Nov 26 4:00 PM EST

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To: William Epstein who wrote (6673)	1/13/1999 9:49:00 PM
From: TEMFASSBAL	Read Replies (2) of 7841

William << My point is that the price rise is taking place concurrent to the earnings rise but not because of it.>> That's baloney...you said yourself in a previous post just before earnings that (paraphrased) the stock would be taken back down by the specialist "unless there were blow out earnings" (i.e. a fundamental event)...we have blow out earnings and you think the stock has gone up over the last Q for technical reasons?...come on....if you think this move would take place without the earnings and the furture guidance you're out of touch...you think this stock goes up regardless of the earnings (fundamentals)...come on...if they made 12 cents it goes in the tank...regardless of what the technicals say before the report...fundamentals drive stocks.. <<The stock has risen rapidly, weather or not, earnings were good or bad. So, price rises in a stock are not necessarily, tied to earnings.>> BS...the stock was rising because the next Q earnings were going to be good (if not why didn't it rise a Q ot two ago)....you think the technicals and fundamentals change in the same direction by coincicdence?...you think the technicals could move this stock up WITHOUT earnings.....the stock was rising and the technicals improving BECAUSE enough people did enough digging to know the Q was shaping up well and they were "smart money" in ahead of the crowd...not because the chart said so..the chart followed these folks..they didn't follow the chart....if the Q guidance was lousy do you think the buyers would ahve been there...no way...people who follow the whole sector not just one company (just look at HTCH's numbers) are way ahead of the "crowd" when they move into and out of this sector...stock price rises ARE ULTIMATELY tied to earnings...no doubt about it..its a fact...give me ONE example of a stock that disappointed in their earnings and went up dramatically... I believe in the importance of technical analysis when making buying and selling decisions and the importance of knowing the workings of the specialists and market makers BUT fundamentals drive stocks in both directions....technicals set parameters...nothing more...nothing less. FWIW, IMO

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