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To: Shi who wrote (6665)12/23/1997 11:19:00 AM
From: Rick Slemmer  Read Replies (1) | Respond to of 152472
 
Shi:

I'd wait and see how support at 45 holds up. If the stock closes below 45, there will be further selling pressure.

The Santa Claus Rally and January Effect are (to my mind) nonevents. Everyone knows about them, everyone expects them to happen, and everyone wants to be in the market when they occur. Therefore it's only logical to assume that this seasonal optimism is already reflected in the price.

If 45 does not hold, there is support evident at 42 and 39.

Good luck!

RS