To: Mark who wrote (12841 ) 3/18/1998 10:17:00 PM From: V. Read Replies (1) | Respond to of 17305
Hi Mark, Well, you just wanted to brag on this one today, didn't you? :) I'm happy it did so well for you, Mark! I didn't see any PRs out today...earnings speculation perhaps? Or a leak on some upcoming good news for tomorrow or Friday? The volume was hefty, 317K today, and the last time we saw such positive momentum was back in February. This is a new 52 week high today, and really, this territory hasn't been broached since Sept. of 1996, so it's a substantial move. Now that it tackled 12 today, there really is little resistance until the upper 13s which is rather secondary; beyond that, it's a pretty straight shot to the low 16s. Typically, with a move like this, you would expect some profits to be taken, particularly on a day like today. However there was high volume to the upside, and it closed quite strong, so I would suspect further upside movement tomorrow unless the volume just falls out which is doubtful, or if the market overall comes down further which is possible. It won't run straight to the mid teens without a little break, unless there is another force to drive it such as a news release as I mentioned above. If you look at the chart overall, a nice upward trend was established from last April to present. Steadily higher highs and higher lows. A nice chart, technically. I scanned the MTON thread [booooring! No offense MTON folks, but it ain't Swaps!! tee hee hee], and someone was saying that the earnings were rumored to be so-so for next Q so if that is true, look for the stock to sell down shortly, and this new high would be a wonderful exit point. If that earnings speculation holds no water, then decent numbers could boost this one to the mid to upper teens very easily. You might want to protect some profits by selling a bit at this level, even a little every day until its direction is established, reducing your exposure, and locking in gains. I had suggested that similar strategy to Shoe earlier today on another issue. :) Then, if it runs higher, you will still have a position, but if it does sell down, you will not have put the entire gain at risk. This is a good strategy if you have enough shares to warrant the extra commissions. With very small positions though, you might just want to gamble a bit and either hold longer term or sell outright and look for another entry point on a pullback. I wish you the best on this, Mark, hope the ramblings above were somewhat helpful, I surely hope so. TY for the well wishes, I'll bring you up to speed sometime soon, but "ACK" will suffice for now. <gggg> Take care, you're just making too much money these days! :) xoxo, V.