How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 477.74

-2.5%

3:59 PM EST

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To: Sir Francis Drake who wrote (23164)	5/24/1999 7:22:00 PM
From: Sir Francis Drake	Read Replies (2) of 74651

The odds of a bounce up in MSFT are now very high. Take a look at today's action: (Punch in MSFT where it says "Enter Ticker) thomsoninvest.net Look at the massive buying at 76 1/2, and onward right into the close. The last indicator is a Super Buy at 3:20 PM EST. If you track the volume, you'll also notice a surge starting around the dip to 76 1/2 after 2 PM EST. The Super Buy at that time balanced the Sell/Super Sell peak from 9:20 AM EST. This is very bullish (short term). This is of course not a guarantee that MSFT will bounce from here, but it bears out Friday's bullish close - there was end of day buying too. Were it not for today's market sell-off, MSFT would have definitely followed up on Friday's action; MSFT opened up today, and it did not close down very much considering the overall market. End of day buying on heavier volume confirms the trend. The only thing holding MSFT back at this point is the general market. However, I think the whole market is due for a snap back - S&P 500 is approaching first support line, so this is a good excuse for a technical rally ahead of the long weekend. If we set Friday for a down on a long weekend, then we should have a rally over at least 1-2 of the next 3 sessions. Short term, MSFT is nearing an end to the sell off, IMO, so we'll see if the market cooperates. Good luck to all MSFT holders! Morgan

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