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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: DRRISK who wrote (7681)	1/5/1998 7:16:00 PM
From: Dennis G.	Read Replies (1) \| Respond to of 13925

Well they did it again. When they flush this down the toilet they really do it big. Every time it drops it's like its going out of business. Nothing subtle about this stock. Just like a 2X4 to the forehead. Just about every tech stock you could think of went up today and this stock gets creamed again. My feeling is that stop losses are to blame. Traders set them up like dominos and the MM's just love to knock them over. Well I picked up some Jan 17.5 calls after the drop and may get more tomorrow. Hoping for a quick rebound. Dennis

To: DRRISK who wrote (7681)	1/5/1998 7:26:00 PM
From: Douglas Webb	Read Replies (1) \| Respond to of 13925

After it does this how high will it go, oh Swami predict. Well that's the kicker, isn't it? Eventually it should go up to 'fair value' around $30-$50, but we're all familiar with that pipe dream. iqc.com There's definite resistance at $22. We've peaked there twice since the big drop in early Dec and fallen back both times. There's resistance again at $24. This was a peak in late July, halfway point for a rise in late September, halfway point for a large candle in late Nov, and also for the drop in early Dec. There's more resistance at $26-$27. This is the peak in late September, and support range through most of November. After that, we have our ultimate high at $29 to worry about, and then we're in unknown territory. On the downside, the support levels at $20 and $18 should be fairly strong. If we break $18 we'll probably see $16 again, then $14. Hmm...Support and resistance every $2. I think I've hit all the bases, huh? No matter what, I can't be wrong! I guess the moral is 'look for $2 movements before a reversal!' Doug.