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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: signist who wrote (12874)4/22/1999 1:53:00 PM
From: Bruce L  Read Replies (1) of 42804
 
<Short term resistance seems like 8 15/16>

Hi John,

I agree. And I think MMs are accumulating shares. That's how they accommodate the larger purchases I mentioned earlier. Usually, these large purchases help in 2 ways: (l) the purchasers presumably are holding for the long term, so these shares are out of circulation and diminish the supply, and (2) it indicates that buyers are hungrier than sellers and so set the tone.

That said, why is the stock back down to 8 1/2? If it closes at or below this level, that is NOT a good sign.

Bruce
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