To: John Fairbanks who wrote (367 ) 10/23/1997 7:55:00 PM From: TechnoWiz Read Replies (3) | Respond to of 2897
John, let's face it, today was one of the most dramatic down days in years and in fact, I believe it was the first time in history that the S&P 500 was locked limit down on the opening for its entire delay period and still this little beauty managed to defy gravity and close higher, increasing its volume on the way up. If it continues to edge up in this manner, at some point, it will break out and probably surge higher on exploding volume. I think there are a lot of smart money people watching this baby and waiting for it to deliver. Now that it has begun to write business at a rate that exceeds its own agenda and things are coming together either on or ahead of schedule, the level of interest and its stock price should continue to rise. At the average daily rate of recent days with 6 days remaining in this month with an average half million shares per day traded, this little puppy is going to do over 16 million turnover in its shares this month. Interestingly, if you average out the price x volume, the monetary turnover on a month by month basis has averaged out at around $1,000,000 per month during 97. By contrast October's monetary volume will probably be close to $5,000,000. Does that tell you anything? PS Where did you buy TPRO? It looks hot. What do you think? One other thing, if this market overcomes this bout of Hong Kongitis, this mkt is going to explode higher and probably go parabolic, especially now that the shorts have loaded up here today. If there is no downside followthrough, they are going to be ripped apart. I mean look at MSFT, nothing seems to be able to keep that stock down and it looks to me like a text book bull flag formation in play. If they make 100 million new computers between now and whenever, you know who's going to get their cut and the mkt knows too. Rgds TW