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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (263)	8/25/1999 8:05:00 AM
From: Teflon	Respond to of 6516

t2k, my belief is that any buy in the 50s is a steal on GMST. Unfortunately, I'm not so sure that we'll revisit those levels anytime soon. There seemed to be some major selling in this issue as we headed into this past Options expiration, as it was clear someone was very intent on taking the price from the high 70s down to a close of 60 last Friday. I see heavy buying in the stock since then, however, and I firmly believe this stock sees close to the 100 mark before the end of the year. I'd be a buyer at the open today on any weakness for a short term trade, and a buyer of the stock at any price in the 60s based on a long term perspective. Heck, I was buying the stock all the way up to 74 prior to last week, but I don't plan on trading these shares at all -- strictly tucked away for a rainy day. In short, t2k, I see terrific momentum in the stock right now for a short term play at these levels, and I see unbelievable opportunity in GMST over the long haul and would be buying anywhere in here with that objective in mind. The next trading resistance in the stock seems to be at the 70-71 level, btw. Not a whole lot of resistance between the current price and those levels. Teflon