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Technology Stocks : SIEB Siebert Financial Brokerage
SIEB 2.740-1.8%Nov 3 3:59 PM EST
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To: Gutterball who wrote (210)4/8/1999 2:51:00 PM
From: Sun Tzu  Read Replies (1) of 284
 
I forgot to tell you why I was laughing so hard. I think I was the fool that you sold it to. So far it has been good for both of us. As we both know, fundamentals have nothing to do with this run. It is all in the market dynamics. I think there is still substantial upside left for the stock. Back in late December, SIEB went from its 5~7 trading range (a 40% range I must add) to or 4 times the low end of the range. It fell sharply and stayed in trading range of 9~15. When it broke that, it went all the way up to 65 (I know that it went as high as 70 but that was very short lived. I was watching it all day then, becuase that is when I shorted 1000 shares. For most of that day it traded ~63). This was 4 times its top of the range. It then fell to a trading range of 22~29. Now that it has broken through that range, it may actually quadruple the range and go as high as 90~120 before falling to ~70. This is of course based on past history, but I've seen a similar pattern (i.e sharp rise, settle half way, sharp rise again) in many high flying stocks.

One more thing to keep in mind, Micky actually holds a seat on the NYSE which by itself is worth a lot of money and gives her a lot of opportunities.

good luck to all
Sun Tzu
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