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Technology Stocks : ICOM: Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: mogo who wrote (452)	3/30/2000 9:57:00 AM
From: JimBeamII	Read Replies (1) \| Respond to of 494

TA ... for anyone interested. For previous TA on this stock please refer to: Message 13299321 I stopped-out of ICOM yesterday at 6 15/16s -- just a trade, nothing more. I never take over a 15% stop loss. I also expect to get back into ICOM when things, including the broader market, settle down. Right now there is a huge bias against tech stocks that do not show current value. Future growth and great products in the wings are not making the grade. ICOM, in its current chart pattern, can still go either way. In the last two days the scales have tipped from and upward to a downward breakout. This is because, for the last several days, it has closed with lower highs and lower lows. However, the flag formation is still within the pattern. Also, viewing the linear regression (trend line), it is still in an upward trend which the price has closed under the last couple of days. This is the real danger of this stock IMO: there is very thin support at 6; the next very thin level of support is about 5.50; after that, the next level of support is about 4.50. When I say "thin" ... I mean that the "support" is represented by a one-day trough with light trading. Accordingly, if it starts sliding down -- as yesterday with a 3/8 drop of over 300K shares in a minute or so -- the slide could continue rather fast, and rather far. So, I hope everyone will watch their position closely in order to protect their working capital -- especially folks that may be over-margined at this time. Of course, this is based strictly on what I may or may not know about Zen and the art of reading tea leaves.