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Strategies & Market Trends : The picks
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To: Andrew Vance who wrote (3851)2/4/1997 5:55:00 PM
From: Trader X   of 6124
 
re UTEK bottoming

First off, I agree with what Andrew says about UTEK being undervalued.

Secondly, I don't think you can call a 3 point pullback from 9 month highs a "bottom". What UTEK did last summer was a bottom.

Thirdly, after rising 60% in the past 2 months, even including the last week or two of pullback, UTEK has hardly been undiscovered.

UTEK will certainly rise more, but this takes time. Few stocks double in a couple of weeks, and those that do often retrace a big chunk.

Give UTEK a little time to breath, use the opportunity to get more, and wait for the next runup to happen.

KH
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