Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Richard Ney and the Wall Street Gang -- Ignore unavailable to you. Want to Upgrade?

To: BenYeung who wrote (144)	2/2/1998 12:03:00 PM
From: Winstonwolf	Respond to of 492

Nope, got out of FDC temporarily above 30. Ney is looking for it to go lower (stock was sold short heavily on the way up after earnings) and the technicals don't quite yet confirm a breakout. I'm suspicious of the upgrades, I know in one case it was done by a specialist firm - interestingly though, another specialist firm, DLJ downgraded FDC. I'm looking to get back in at 27, but if a breakout confirms, I'll have to spend a little more but I'll still feel good about it. You may have seen my post on JBIL about the technicals. I'm not negative on the company at all, but I can't get over how well behaved the stock action is within the channel it's been in for 4 mos. The resistance line has been confirmed 7 times DEAD ON THE NUT! Friday was the 7th time. That's why I got out with a nice little profit at 39. The current support points are near 33, 28, and long-term support at 25 and NO technicals I have access to/use are positive yet. So this is a tough case of being caught between what I think is a long-term value at these levels and the short-term indicators being really bad. Take care.