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Technology Stocks : PHTN--Photon Dynamics, anyone follow this company -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (884)	9/5/2000 12:45:16 PM
From: nasdaqian	Read Replies (1) \| Respond to of 930

I gave up on the "why" on stock action a while ago. I try to look mainly at the "what". I think this stock is "worn out" from a TA standpoint. The news has been generally positive and it can't maintain its uptrend. It's 50 and 150 day MAs are now defining resistance instead of support. I think we'll be stuck in a trading range at best. If it can hold above 40. If not, all bets are off. ML seems to have saved their butt for today. It will be interesting to see how the battle in the low 40s proceeds. I personally think a decline to the 30s has better odds than a return to 60 and therefore am not buying here. Any theories on the "why" are most welcome. Especially if the implications are that this is no longer an excellent play on the FPD market.