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Technology Stocks : Ultratech Stepper -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (2346)	4/15/1998 11:09:00 PM
From: Investor2	Read Replies (1) \| Respond to of 3696

Well, it doesn't look like I'm going to get my Christmas wish after all. It's already April, and UTEK hasn't visited my next "buy zone" of below $18. Based on the price action since mid-December, it appears that nobody wants to sell for less than $18. We had the drop into the $18's in mid-December on fairly high volume. Then came a recovery, two subsequent successful retests of the lows in January, and a third retest in March. All retests were on progressively lower volume. It seems that all of the "Nervous Nellies" have been scared out and only the strong holders remain. Speaking of nervous people, the people with large short positions are probably beginning to get a little nervous about the price action since the end of March. Although I'm not into T/A, I can't help but notice that the 20-day moving average has recently moved above the 50-day moving average, and the stock is currently trading above its 200-day moving average. The price has moved up approximately 20% over the last two weeks and the volume is picking up. Also, the moving averages/convergence divergence (whatever that is <g>) is quite positive. Oh well, I guess I have to face the reality that Santa isn't going to bring me the gift of sub-$18 UTEK. Furthermore, its looking more and more likely that I will never get that chance again. Best wishes, I2