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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Bob&Carolyn who wrote (9208)	12/13/1997 8:08:00 AM
From: ChrisJP	Respond to of 79378

Hi Carolyn, Esteban, and Scott (aka Instock) Here are my thoughts on MLOG's Friday trading. Nothing much happened until 3pm. I think 5000 shares had traded. Then between 3pm and 3:30pm, 9000 shares traded. 7000 were sells which brought the bid to 5 7/8. 2000 was a buy at 6 1/4. Around 3:52pm, the ask was moved to 6. 4000 shares were purchased at 6. Were the sells based on earnings knowledge or someone selling because in fact no upward volume occured ? I don't know. Were the buys at 6 bargain hunters or just automatic GTC purchase orders ? I don't know. Why I rarely get a clear sign regarding my investments is just my lot in life. Here's what we know: Based on the way MLOG earns money (via contract labor), it's safe to assume their numbers for this quarter will be similar to last quarter. The question is how will Wall Street take these numbers ? I don't know. MLOG also sells to very "asian flu" protected industries: pharmacies, phone comanies, collection agencies. It's tough for me to figure out what this stock is doing at 6, much like many have no idea why RECY traded as low as 6 when there is some consensus that it'll be in the teens in a year. Look at CADE and others. Same story. I guess we'll just have to wait until Monday or Tuesday. If the stock moves up beyond the 9 - 10 range, I'm gonna take some profits, but I have no plans for dumping MLOG if it goes down just because the market is in a selling mood. That's because I bought mostly in mid 5's to mid 6's. I'll sell when the market is in a buying mood again sometime next year. If people want to dump this stock for under $5 you can bet I'll be buying. You should decide what you plan to do before you have to do it. I really thought this would be a no-brainer. Sorry it isn't. Regards and good luck, Chris