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Strategies & Market Trends : Water! Water! Everywhere and Not a Drop To Drink!
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To: Wade who wrote (87)5/30/1999 10:53:00 PM
From: big guy  Read Replies (2) of 336
 
I've been thinking about that last pop we just had Wade. I think its pretty safe to say the action was induced.I don't know if it was the market makers or an individual but someone moved it. There wasn't any news to excite the small investor into taking a position. And someone trying to take a larger position wouldn't be that naive to run the price up on themselves like that. The speed in which it fell leads me to believe that after pushing the price up they got cold feet because of the general market weakness and made a hasty exit. Now we returned to our base were they will accumulate shares until its time for the next run. This bouncing should continue in this range give or take a little until Waterlink comes out with some news to take the range higher or lower. Judging by the speed at which they took it up there isn't much immediate upside resistance. And from were it stopped on the way down support at this level is good. If they hit there fiscal year 99 earnings number at the current price WLK will have a PE of 10. I like the potential upside in this stock. And the downside risk although there I am very comfortable with.

What are you doing sitting on the computer this beautiful holiday weekend?

Catch ya later

Big Guy
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