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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Gary D who wrote (4359)4/9/1999 6:30:00 AM
From: Justa Werkenstiff  Read Replies (4) of 15132
 
Gary and D: ETEC cratered yesterday on high volume. If larger cap funds did dump it, they will dump it to smaller cap funds because it is 95% owned by institutions.

You are watching a classic beta blast to the downside that can correct itself very quickly to the other direction. The beta on this one is high. I would watch it very carefully today. I cannot tell you that it won't go lower today because it did close near the low for the yesterday. But the high volume might suggest selling exhaustion. All we can do is react if we choose by stepping up to the plate. You can look for a bottom and buy it on the uptick. But one must watch it closely.

On October 8th, ETEC closed at 15 13/16. That was the low. One day later, it closed at $20.25; one week later it closed at $27 1/2; two weeks later it closed at $35 3/16.

I was somewhat premature in my initial timing. I added to my position yesterday at the close. I will do the same today if the opportunity presents itself.

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