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Technology Stocks : DWCH-Datawatch Worth Watching!
DWCH 13.100.0%Dec 13 4:00 PM EST
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To: Edward Collins who wrote (87)1/31/1997 2:53:00 PM
From: Fred Puppet   of 462
 
Ed, you are right. If everyone refuses to sell, the price will rise.
However, the problem with this stock is that almost 100% of the
(public) shareholders have a loss. I think David's sentiment in
Reply #77 is representative: "I'd get out if I could". Last night,
lots of people were thinking they might get out at $5, but why not
wait for $6. A few people got out today at $5. The rest of the
people who were thinking about $5 and hoping for $6 are now thinking
"I'll sell next time it goes to $5". So, we can expect a lot of
overhead resistance with everyone trying to get out at breakeven or
maybe to minimize their loss. I'm expecting a lengthy base in the
$4-5 range before we see a breakout. A continued run up will only
be sustained if a majority of the shareholders have a profit.
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