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Technology Stocks : DIGL... Digital Lightwave.... Making Waves.... -- Ignore unavailable to you. Want to Upgrade?

To: Craig Rogers who wrote (219)	12/24/1997 2:10:00 PM
From: Craig Rogers	Read Replies (1) \| Respond to of 934

I guess a PE of 144 doesn't help in this kind of market. Craig

To: Craig Rogers who wrote (219)	12/25/1997 7:07:00 PM
From: ahhaha	Respond to of 934

Perhaps douible-bottom isn't quite accurate, but close enough. Many tech charts are similar, even MSFT. A full blown panic self-off encompassing a 3 week 5 count Elliot downside wave has occured. The fifth count occured over the last several days in many OTC issues, not only techs. The only buyers have been market makers. A fifth count exhaustion is evidenced when that is the case. It is important to watch the next quiet several days for the next market advance leaders. Some indications are pointing towards semiconductors. If you see a jump up on low volume cutting the steep downtrend, then short covering is occuring and the market makers are hanging onto their supply. The machinery is burning early short covering. The MMs won't let stock go until we have the backoff downtrend test and ensuing jump up. That won't occur until the new year. To trade DIGL you have to buy tomorrow, and blow it out near 15. Wait for the backoff, to retake longs say at 13 1/2. I won't buy until I'm convinced the investment thesis is still valid. Of course, that means paying up. So far, I haven't been able to find any negative fundamental change, but that doesn't mean squat. Remember I also said I thought the stock was cheap at 15, so caveat emptor.