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

To: Sam Golden who wrote (246)	12/23/1997 8:23:00 PM
From: David G.	Respond to of 1999

I agree that today's dropoff was stop limit induced. The fact that the transactions came from retailers should tell you something - private investors went off for the holidays and put protective stops around 14 3/8. MSFT's dropoff triggered the dip on NASDAQ, and when the stops kicked in, it created a snowball effect. Regardless, this event has forced CELL to re-test its lows of October which is an important technical event that I originally thought would have happened weeks ago. If you remember on 10/28 it hit $11.50 ($23 pre-split) but never closed lower than $13.00. A re-test had to happen eventually and it is actually healthy to get it out of our system, stabilize and then lead the way for an upward reversal. Look around, almost every company has re-tested its lows. The weaker companies re-tested their lows weeks ago (and some of those weaker companies have had problems holding support). The stronger companies like CELL have fought it off much longer and are re-testing now. The fact CELL held it off for so long should tell you something about the strength of this stock that you have chosen. This is not an omen of bad news, but a natural technical event for so many stocks in this market that saw 60-day lows in late October. I am still hanging on and keeping the faith in CELL. IMO this just needs to run its course. David