Identix (IDNX) Message Board

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Technology Stocks : Identix (IDNX)

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To: brad greene who wrote (296)	3/6/1997 9:31:00 PM
From: Chuck Mowery	of 26039

For what my two cents are worth... The 150-day moving average is sitting at about 9 3/8. That represents some pretty good support. Remember that IDX rose nearly 100% from its lows in December and this type of retracement is not at all uncommon, specially when that retracement is back to an intermediate term moving average. 10 is also a good support point although it'll fail if we stay below it too much longer. The longer term look, looking at a weekly chart, still looks excellent. The other bit of good news is that this retracement has been on relatively light volume (my guess it's people who are taking some profits). As for the shorts, it's actually good to have them around--specially if you're looking to buy more shares--because not only will they drive the price down a bit (making your purchase that much more of a value), but they also make themselves buyers when you're ready to sell since they have to buy back the shares at some point (although my guess is they won't wait to the cabo-destined 30). Finally, for all those that truly believe in IDX, this becomes a raging buy opportunity for those "extra" dollars...or two cents Chuck

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