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Technology Stocks : METRICOM - Wireless Data Communications -- Ignore unavailable to you. Want to Upgrade?

To: ynot who wrote (1557)	7/19/1999 12:25:00 PM
From: AJ Berger	Read Replies (1) \| Respond to of 3376

I'm just guessing here, but after watching MCOM intraday since before WCOM invested, I can make the following assumptions with some confidence. currently most high volume tics are down now, making me conclude that large positioned longs are trimming their positions, and it's only nervous short covering bubbling us back up after each downtic. I think we'll take a dip trip again today to $31, but may not close lower due to end of day covering. I think the major resistance will be about $28 which we may see as early as Tuesday. If we fall thru that, we could be in the low $20's by Friday. If it holds firm at $28, we may see new buying kicking us well above $30 toward the weekend. This is simply not as sure a bet as it was 2 Friday's ago in the high $40's. The closer we get into the $20's, the more likely new buyers will come in, and the less reward/return will be for shorts. I know you think this will get back into the teens, I don't agree. The float turned over too many times above $20 for anything but really bad news to kill MCOM back into the teens. (HAUP is a better example of the same thing; that stock is stuck at double where it should be, because of float turnover after a big run) Considering that WCOM invested here, I'm sure they'll be vigilant about keeping anything bad from hurting their new toy. As much as we like analyzing MCOM to death, the "story" of a viable wireless internet service just a year away from marketing is too tantillizing a growth situation to keep many new longs from coming (back) into the stock where is was around $20 when; we got the WCOM investment news, MCOM's potential now saved from bankrupcy, and early 128k R2 encouraging test results, all "sunk-in" back in the low $20's.