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Technology Stocks : Paychex (PAYX) -- Ignore unavailable to you. Want to Upgrade?

To: gladman who wrote (186)	6/25/1999 12:11:00 PM
From: Jeff Bond	Respond to of 210

I'm going to call it a day, it's 9AM PST and we're fine, if you're going to try and sneak out to a Cubs game, then darn it, I'm going surfing, later :o) Regarding resistance at $30, I'm just missing it, because I don't see too much there to bother us. I do think the 100 day ma at $30 5/8 and the 200 day ma at $31 3/8 will pose some resistance, especially the 200 day ma. However, just like you said, once we get through this area of resistance, whatever it might be, we are off to the races. Your $2-3 pop seems very reasonable to me as well, and that puts us in the front seat of a fast moving vehicle. 10 day ma about ready to cross over through 30 day ma, crossovers have been fairly reliable indicators of price movement. I'm happy to say this stock is ahead of my timetable, and that is very encouraging because it means I underestimated it's potential. Remember not so long ago we were all looking for a bottom, HAHA? I consider the opportunity to buy shares at $26 5/8, right near the bottom, pretty good justification for the use of technical indicators. Especially since as we're about to find out, the underlying fundamental picture of the company hasn't changed, except for getting better than it already was. I'll cheer the Cubs today, you pray for some surf :o) Regards, JB P.S. I expect volume to be good today, if so it would fully confirm the uptrend.

To: gladman who wrote (186)	6/25/1999 5:14:00 PM
From: Jeff Bond	Read Replies (1) \| Respond to of 210

>>Jeff - please keep an eye on the market for me.<< How'd I do, hope you're not mad at me :o) There was VERY good volume in the $31 1/2 to $32 1/2 range later in the day, but once again the price was brought back down towards the tail end of trading. There is plenty of legs left in the run, but just as I epected, the 200 day ma worked to slow down todays run. This could provide some resistance, but with earnings looking good for the quarter, I don't think it can hold the price back for too long. Looks like you got your wish for the 7% jump, blowing out resistance at $30, and a trip to the see Cubbies play. I didn't get my surfing in, ocean was flat, someone fell down on the job I suppose :o) Who's selling? Not me ... run Forest run ... Best news at this point for any PAYX shorts is at least they won't lose any more money the next 2 days; suckers, thats about it, the march continues good & proper on Monday!!! Regards, enjoy the weekend all, JB