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

To: John Curtis who wrote (10488)	6/6/2002 10:32:02 AM
From: tejek	Respond to of 11568

Now does this mean an ultimate retest of $1.08? I kind'a doubt it, but wouldn't be surprised because of all the emotion currently built into the equity. But a test down to ~$1.20 would definitely not surprise me (a point where I'd be doing a big-time nibble). The only thing that runs counter to this idea is we've had 6 consecutive down trading days, a fairly rare event for WCOM. So just from an "odds on" standpoint WCOM is due an up day.....course....with continued general market-wide angst who can say if "odds on" has merit. I thought with a double bottom there had to be more time in between but whether you call it a double bottom or a retest, there has to be some process that reassures investors that WCOM's fall is over. Currently here in pre-market WCOM's last sale was....5.1K shares at $1.39, with oddly enough the trade before that of 100K block at $1.40. That's big by pre-market standards. So we could be looking at WCOM spending yet another day flipping, this time at some bid/ask level in the $1.30's (though pre-market could be a bear trap set-up). Its very likely that WCOM won't go straight down to put in its bottom but rather move back and forth in a downtrend. Like you I'd sold some of my earlier collection at a higher point, and am now simply waiting to see where the equity stabilizes. Let's see how it plays out.... I suspect a conclusion will be reached right before the 6/14 meeting but yes, we will have to wait and see. ted