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To: devtan who wrote (755)4/7/1998 9:58:00 PM
From: Pierre J. LeBel  Read Replies (1) | Respond to of 4605
 
Hi Devcan.

Yes, we are at the bottom. I was very lucky to pick up a few thousand shares today at $ 1.51. However, do not expect a straight arrow to the sky as we had a few weeks ago. Consolidation in the $ 1.50 to $ 2.00 area for a few weeks would do just fine.

Good Luck and have a very nice day.

Pierre



To: devtan who wrote (755)4/7/1998 10:38:00 PM
From: Marc Fortier  Read Replies (1) | Respond to of 4605
 
Hi Devtan,

Right now I would not guess anything. I am far from being a technical analysis wizard, but there are a few facts about the present stock price gyrations that don't look good at all:

- First, the stock closed today down 50% from its high of $3.15, which was attained not even two weeks ago.

- The trend is downward, definitely, with volume diminishing almost daily (the contrary would be very disturbing, but it is not reassuring either; it just shows that the interest for the stock is waning).

- If we break under the $1.50 mark, the next stop is at $1.20... After that, back to the 70 cents range.

Finally, I'll end this pessimistic post with an other evidence: this stock has gone up following the press releases of the 16th of March. Good news as fueled it, the lack of news could well hammer it. So, let's hope that the management will come up with something soon, otherwise we will all have to work hard on our patience.

Best regards to all,

Marc

P.S.: I am still long on this stock. Fortunately, my participation is relatively small, so I can tolerate a laggard in my portfolio, as long as he as got potential... One thing for sure, though, I won't add to my position. I am too old for that kind of action.



To: devtan who wrote (755)4/8/1998 7:00:00 AM
From: Mark Bartlett  Read Replies (1) | Respond to of 4605
 
Devtan,

My guess is we are likely reaching a near-term consolidation area. Between the week of March 23-30 the stock gapped from the 1.39 area to the 1.60 area .... gaps are almost backfilled (but not always) which means we might see the 1.30 area ... it is difficult to tell.

The stock is oversold as far as the RSI is concerned, but I do not place a lot of faith in RSI measurements at the moment - they work better IMO on more senior, less volatile stocks.

My best _guess ..... with no further news, I would expect we may backfill and then become range-bound in the 1.25 to 1.50 area ... but if there is some sort of news announcement, that will obviously affect this scenario.

MB