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Technology Stocks : IDT *(idtc) following this new issue?*
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To: Hawaii60 who wrote (7504)5/11/1999 1:34:00 PM
From: xbrent  Read Replies (1) of 30916
 
IDTC does have many pattern daytraders who sell/short the spikes and buy/cover the dips. Any serious news or speculation about news and the pattern traders will freak. No fun being short when IDTC breaks out. IDTC can fly from 27 to 30 in literally a few minutes. When the shorts throw in the towel we could spike 5 points within an hour or so, IMO. I assume that some would again try to pattern short again at a new level, say 32 for example. This will make for very interesting trading as we could return to the mid thirtys just as easily if investors think that $40 plus is just around the corner. Plus the momentum day/near term traders are very familiar with IDTC. They were heavily involved in the last major run up.
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