FRANKLIN TELECOM (FTEL) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)

FTEL 0.819

+2.0%

Nov 18 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Darrel Orpen who wrote (6004)	2/24/1997 9:11:00 PM
From: topwright	of 41046

Darrel, My take on the close was that the MM's saw that 12k of sell orders sitting there and were reluctant to move up the bid, especially in light of the unconscious market orders that were being tossed at them. They saw a quick chance to open there spread (profit) and seized the moment. To back this up, there were 4 MMs on the bid, and 8 sitting at 5.00 ready to feed the quacking ducks. The clock was working in their favor and thus no pressure or direction could be concluded. The real story will be written prior to the open. If they close down the spread and we open at 4.69 or 4.75 on the bid with a .12 spread, then we are ready to precede in an orderly fashion. The action could be fast though as we clear $5.00. Earlier in the day I stated that once we started to move, it would be rapid. The reason is the long solid basing. The MM's have now filled and balanced their inventories and ready to precede. Our flag is now fully untethered and ready to for a salute. Also the 21 day moving average propelled us nicely off the 4.56 - 4.62 level and is still coming up behind to lend support, it is now at 4.71 and thus positioned to correlate with my above projection of a 4.69 to 4.75 opening. The real story is in the Technical Analysis Stochastic chart. It just went green and it is almost at the identical value that preceded the last move. When looking at the chart pattern, we could easily be starting another flagpole formation, of which we could see a move to the $6.00 level on renewed volume. We are also starting into the upward leg of the cycle chart that should carry us into mid March. All these factors are just that, factors that say that conditions are ripe for another nice move, technically speaking. Lets keep our fingers crossed and let the tape tell the story. RB

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next