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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: jelrod3 who wrote (2248)	5/17/1998 9:22:00 PM
From: Johnathan C. Doe	Respond to of 5944

The angle we are looking for with ADPT is that near-term holders are dumping the stock out in excess and it is creating a bargin situation of short duration. Nothing is going to help us out much with this; TA isn't but of so much value under these situations. Most TA folks won't touch it till it has gone through the hold stabalizing routine, but what we want to do is catch this thing as close to the moment of temporary oversold condition as possible. We are getting close to being 10 points off the high prior to earnings and I may just take the plunge into this thing at $14 1/4 or so if the selling just keeps up with no buyers. I think it will be a safe enough re-entry point. If the market in techs just caves in though; we could really fall to some ridiculous levels. Since institutions were holding this in the majority; though that might not be the case any longer; if they all exit in a panic, we could see single digits temporarily and I'll be getting my credit card out.