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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL) -- Ignore unavailable to you. Want to Upgrade?

To: elk who wrote (23500)	12/19/1997 3:37:00 PM
From: David McCleary	Read Replies (3) \| Respond to of 41046

Evan, to answer your question, no, I did not buy today. As I stated a month or so ago $3.50 is a stong level of support and I'm waiting for a base to form here, but this is not to say we won't break below it. I'm NOT betting we will break below this support, but to play it safe I'm going to wait a few days and see if a base does form. If RB is right and we get his proverbial ball "bounce" from this level and I end up getting in slightly higher that's fine with me, but for now I'm waiting for the stock to prove to me that it will respect this support. By it being tax selling time, though, this is no guarantee. By next wednesday or thursday I should have a better idea. For now I'm THRILLED that we didn't drop below $3.50, that's a good sign in my book and if we go a few more days like that I'll be a buyer. Thank you for your respect, but my prediction could have been done by anyone with remedial TA knowledge and the willingness to put aside emotion. Dave