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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: David GarrisonD who wrote (2979)11/20/1999 2:27:00 PM
From: MGV  Respond to of 3818
 
"It's since formed a downward sloping handle."

For those of us who do not actively use technical analysis, what does this imply, if anything?



To: David GarrisonD who wrote (2979)11/21/1999 1:47:00 AM
From: Katz R Us  Read Replies (2) | Respond to of 3818
 
David,

First of all, November 13 was a Saturday, so it couldn't have hit a new high on that date. I had call options on PMCS which I sold on ll/10 when the stock was at 110. It closed on Friday, 11/19 at 108-9/16. Also closed at 109 on 11/16 (last Tuesday). I hardly see this as a "downward sloping handle" (whatever that is).

Question: what does "basing for 10 weeks" mean? I don't understand the term "basing."

Barbara


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