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Technology Stocks : Safeguard Scientifics SFE
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To: David Lawrence who wrote (2186)1/20/1999 2:56:00 AM
From: michael r potter  Read Replies (2) of 4467
 
Looks like another buy point on SFE @37 3/8. Good but not great volume. Will be important to follow through with volume the next few days. Stochastics overbought, but the ones I use- no sell signal. The big up day around 10 days ago was very positive [app. 6 pts. and big volume] and almost always portends higher prices. The reverse of what happened to CATP last summer when it collapsed in the upper 40s on huge volume in one day. Even though it didn't feel like it at the time, often feelings are wrong and the stock was shouting "'get out" In this case, SFEs action was a high probability signal that more upside was ahead and buy. Of course this is all probability stuff, and a certain % of the time, an interpretation will not be fulfilled, which is a good argument for contingency plans. No different than using fundamentals to guide decisions in those respects. That said, so far, SFE has been acting picture perfect since the buy signal at $27. Best of luck, Mike
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