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Technology Stocks : Silicon Graphics, Inc. (SGI) -- Ignore unavailable to you. Want to Upgrade?

To: epicure who wrote (3951)	1/8/1998 4:37:00 PM
From: Mathon Dabasir	Read Replies (1) \| Respond to of 14451

>>What indicators are you using that make SGI look so dismal?<< Sorry Alexa, no mystical TA formulas guiding me here except the simple price & volume movement of the stock itself, 50 & 200 DMA's and it's relative strength (vs. S&P 500). Viewing SGI's price and volume since it tanked to 18 last Ocober, I see a -slow burn- of many wanna be bottom-fishers, with the last pig-pile occuring three weeks ago at 12 1/2. Well, when SGI breaks down further as it has after these high volume days the stock suffers continued psychological damage and creates yet more resistance at those same levels on the way back up (...truth be told, I came close to buying SGI @12 1/2 looking for a steal but was quickly slapped back to my senses by a close friend and financial confidant). 50 & 200 DMA's are still heading down sharply. <imho> SGI will have to break through and establish support at the 50 DMA before I go positive. Relative strength vs. the S&P 500 is rated at 12 out of 100. Contrast that to HP @56, DEC 49, SUN 67. Hey, those are just abstract numbers Alexa. But that's all we have these days, unless of course you have any news about positive fundamentals? Still waiting. Mathon