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Technology Stocks : PSFT - 1997 Outlook [closed thread] -- Ignore unavailable to you. Want to Upgrade?

To: Satyr who wrote (781)	1/27/1998 1:30:00 AM
From: Bilow	Respond to of 940

Hi Satyr; I just looked up the closing values for the last year, and corrections in PSFT can get steep. On 1/22/97, she closed at a (split adjusted) $28.125, while on 4/11/97, ended with $17.125. That is a decline of 39%. Applied to the recent high close of $39, this would mean a low of around $24. It appears to me that the big boys are still selling this stock. This is happening every day, not just the down ones. Big limit orders are preventing the stock from easily rising, while only small limit orders are supporting it from below. In my experience, this is about as sure a sign as any of further declines to follow. The big boys, like the Titanic, are too big to turn on a dime. When it stops, I'll cover, and announce it here. But that will likely be a day or two after the big guys run out of stock. -- Carl P.S. Good luck to all, the least dispensable component to successful investing.