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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Fundamentls who wrote (391)	8/23/2000 7:13:39 PM
From: Fundamentls	Respond to of 19633

SONS broke strong support @ 160 convincingly today on the strongest volume since IPO day. It closed below the 50-day EMA as well as the previous bottoms. I see weak support around 130-131 and then watch out below - 92 or 93 would be the next stop. I sold a little more at 156 to add to my position from 200, with a tight stop. About 8+ million shares got early lockup release last Monday, about 150% increase in the float. Not hard to figure why the volume spiked and price dropped. If I had some of those shares I'd be selling 'em as fast as I could, too! Regards, Fund