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Technology Stocks : Westell WSTL -- Ignore unavailable to you. Want to Upgrade?

To: max power who wrote (18500)	4/10/2000 10:23:00 PM
From: Michael Perez	Read Replies (1) \| Respond to of 21342

Well the chart looks pretty ugly. No other way to put it. Unless some really good news comes out soon we may test 20. Then if WSTL stock is strong enough we'll establish a trading range in the low to mid twenties. The shorts are back in big time and the market sentiment is now going against WSTL or tech in general. Hopefully this earnings season will be enough to get things going again. This time of the year normally sucks for stocks anyway. I look for tech stock bashing to continue until JULY/AUG then a new run. Mean while if you're not margined DON'T LOOK. If you are then sell down, so you can recover from the likes of another 500 point day and just hold on. If it goes up tomorrow we could trade between 25 - 30 for a while if WSTL can establish support at 25, which would be nicer than the 18 to 25 level I'm thinking we may be headed for...Also look for viniks position, he normally dumps fast and creates this type of fall in stocks he buys. I bet the next institutional ownership report shows him missing... As far as the Nasdaq goes it could correct down to about the 3500 level. Today it looks pretty oversold on a weekly basis. So maybe if we're lucky it'll turn around over the next few days and go up. all IMHO