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Technology Stocks : Open Text

OTEX 38.35

+1.2%

Oct 31 9:30 AM EST

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To: Michael Watkins who wrote (1088)	3/26/1999 11:34:00 AM
From: jackhach	of 1195

Ya', I know Mike; its the fundamentals that don't always confer with the technicals. The fact is this stock has a very, very thick wall of ownership just behind the prevailing price. This makes a purchase very safe at these levels. The current price is hardly speculative, that is, it is not perched up by a misguided institutional buyer(s) with the capability to pull the rug out from under it at a whim. Ownership is spread fairly among many, many folks/institutions. Should the stock move ahead beyond $25.50 on low volume -- then we may want to pause, however, that is not what seems to be happening. The volume is pretty much moving in tandem with the stock. -JH

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