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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: 90L43G6 who wrote (1660)4/23/1999 10:29:00 PM
From: Moominoid  Read Replies (1) of 2693
 
The TA contines to show that there is potential. This is the right hand shoulder of the bottom pretty much where it would be expected. Note that the stock did not crash below the previous low on this news. I bought back in there. As all the TA texts show there is no guarantee that this move plays out until the price is above the neckline of the inverted head and shoulders. And even then we are talking probabilties rather than any certainty. So I have a stop in place (above my buy in below current price). I won't be surprised if it doesn't go to 25 bucks now but will not be at all surprised if it does. The question then is whether it will stay there or above. Given the fundamentals it doesn't look like it BWDIK.

David
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