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

To: David G. who wrote (351)	1/23/1998 10:26:00 AM
From: JBruin	Respond to of 1999

David, Today I saw the upgrade of NOKA & ERICY to a strong buy by LEHMAN but no mention of CELL. There is a chance that my info was incomplete but I thought that I'd pass it on anyway.

To: David G. who wrote (351)	1/24/1998 12:45:00 PM
From: JBruin	Read Replies (1) \| Respond to of 1999

David, I wanted to discuss some TA on CELL. The question that I would like answered is really how much overhead/resistance is there in the 21-22.5 range. I'm no TA expert but it would seem that there was much more volume that traded when the Asia thing started 10/23/97-12/31/97 vs. before 9/12/97-10/22/97. The "before" period had a much lower daily volume when the stock was 21-22.5. The "after" period had a much higher avg. volume when the stock was 11.5-19.94. My assumption is that Asian related short selling started the process then tax-loss selling took over in Dec. My conclusion would be that most of the owners of CELL in the 21-22.5 are not institutions (due to lower volume) and they most likely have already sold (oct-dec higher volume/panic). The only reason, therefore, why we have not appreciated past 21-22.5 is due to the questions that everybody wants answered (a buyer's boycott) on Tuesday morning.