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

To: Ausdauer who wrote (2780)	4/13/2000 4:14:00 PM
From: Dutch	Respond to of 6516

I'm totally dumb struck at what we are going through. Where is NY Stew? Any direction? GMST is an absolute steal right here. Buying more in the A.M. Dutch

To: Ausdauer who wrote (2780)	4/13/2000 4:29:00 PM
From: RocketMan	Read Replies (2) \| Respond to of 6516

I'm no TA expert, but I will give you my opinion. As I stated a few days ago, this stock broke down technically when it took out its 200 dma. So the important trend indicators are fairly meaningless, and all one can do is look for ledges of previous support. We are at one such ledge, representing last year's July and October tops, when the breakout began. The downtrend is still intact, however, and assuming we take this one out the next level is around 30, which rolls prices back to last May. If that is taken out, there is firm support at 15. I don't expect it to get to levels much less than the current level, because of the stock buyback program announced by the company. Maybe a bit more downside if the naz keeps correcting, but mid 30s at best. Of course, if there is someone out there really intent on bringing this company down, and they have enough money, then anything is possible. It does appear that soemone is trying to crush gemstar. Now, this is sheer speculation on my part, but GMST's market cap is now 8B, down from almost 20B, and is heading south. At these levels, it would appear to me that GMST's deal with TVGIA might be a problem, and that the company might become an attractive takeover candidate. Maybe this is what is behind it, but I am strictly speculating.