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Technology Stocks : Redback Networks, Inc. (RBAK) -- Ignore unavailable to you. Want to Upgrade?


To: Lucky888 who wrote (140)6/24/1999 9:16:00 AM
From: Bo Didley  Read Replies (1) | Respond to of 1956
 
You were smart to cover, $100 support

mm's have the uncanny ability to run stocks
up, then short them, then cover (I think RBAK
will consolidate in the $100-105 as they cover from their shorting at much higher levels)
then run the stock up again. Smart shorts cover early.
Lazy shorts get caught in the squeeze.

On a purely technical basis, RBAK has oversold stochastics,
and a low RSI. Its poised to stabilize and go up from here
purely on technicals.

bo