To: Chris McConnel who wrote (1895 ) 4/15/1998 12:57:00 PM From: V. Respond to of 2319
Hi Punkers, There have been a few larger blocks recently on the offer, and after the initial profit taking this morning, the upside momentum has continued today. Naturally, with the NAZ being strong, it is a boon to upward movement, but there continues to be interest in the stock today. The volume will probably be greater than yesterday at the close, it is very strong right now. As I mentioned, it would be expected to see periodic pullbacks as the rally continues and at any time, those wishing to take profits should do so, though I personally am holding a bit longer. (That should be the sell sign to everyone else...LOL!:) Those with larger positions may wish to take profits on some of their shares, just to lock in profits on the way up. A new base of upper 7s to low 8s will probably develop as the future support level, but confirmation remains to be seen. Scoot might be breaking even shortly, given his average position of around 11...but always remember that former resistance levels become future support levels, and vice versa !!! :) As far as the teens very soon....well, depending on earnings and E3, once it breaks and holds above 10, we will reevaluate. Historically, the upcoming period surrounding E3 is strong for the gaming industry, and should earnings not disappoint, things look pretty promising. This doesn't speak to many of the issues we've been discussing here, I am basically coming from the technical aspect of the chart, and my personal opinion on the stock is irrelevant, as I am simply reporting the TA as I read it. FWIW, take it or leave it. I am very happy for my friends here who are making some money today on this, and hope that the rally continues. All should take a look at ATVI as well. <gggg> xoxoxo, V.