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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?


To: Sector Investor who wrote (14326)7/7/1999 2:22:00 PM
From: Greg h2o  Respond to of 42804
 
it will be interesting to see if the buying comes back in the late afternoon--as has been the recent trend. very typical for institutions to buy in early a.m. and sell in late afternoon.... that's certainly been the recent activity... maybe you'll sell this afternoon <VBG>!
greg



To: Sector Investor who wrote (14326)7/7/1999 2:39:00 PM
From: Bruce L  Read Replies (2) | Respond to of 42804
 
<<Where do we go from here?>>

Well, first we have to close above resistance of 14 1/4 and then consolidate that breakthrough by continuing to close above it for a day or two. Just to remind everyone (and I probably don't have to) this was the closing price ~August 26, 1998, the day before we plunged below 6. If we do this, we should proceed in our usual jerky fashion to 17 1/4. This could take a month, or, then again, it could happen the day after the CC on July 26, 1999. 17 1/4 is going to be pretty tough resistance because this is when a lot of us were coldcocked you know when, and many will be happy to get out even.

In the short term, I expect the MMs will hold the stock to 15 through options expiration on July 16.