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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: Jdaasoc who wrote (25820)	7/28/1999 5:11:00 AM
From: unclewest	Respond to of 93625

only 39 days till rambus Christmas

To: Jdaasoc who wrote (25820)	7/28/1999 8:21:00 AM
From: Zeev Hed	Respond to of 93625

jd, I think your analysis is quite interesting. From where I stand, however, we should not have closed under $95 on monday, even yesterday's activity was relatively weak with the stock in essence opening and closing at the same price, almost a graveyard doji. Thus I think that the shorts' fears (demonstrated by covering when the stock got to the $95 -96 level) has lessened and they may be emboldened to short more aggressively. Since I think that August is not going to be very pretty for the techs and RMBS is very close to that "critical point", I must, for the time being, hold to my thesis that we will see at least the high $80' and if a decline in the techs (led by the I-nuts which are still very weak) is severe, then maybe the $74 to $76 area as well. From there, who knows? It is a tough situation, since the FA background is still based on the "crescendo" thesis, but the technical weakness, even if only temporary forces me into a defensive position. Zeev