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To: Russ who wrote (31435)3/30/1998 12:47:00 PM
From: John Graybill  Respond to of 53903
 
I see the next support in the 25-26 range. There were three separate periods from November through early January where it hung around in that range for a couple of days on decent volume. IMO it won't go through there over the course of a few days (when it gets there); it's either gonna chew up some time and option premium for two or three weeks (nice touch that it's right at a strike price, huh) or blow right through it in a single trade on a gap open on somebody pulling the fire alarm.

Definitely not the same kind of support the spikey 28's from earlier are. But 25, as a very-well-defended bottom of that range (I remember looking at those daily graphs at the time), will become MAJOR resistance on the way up.