Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : METRICOM - Wireless Data Communications -- Ignore unavailable to you. Want to Upgrade?

To: Ross who wrote (762)	5/20/1998 1:16:00 PM
From: Rex Takasugi	Respond to of 3376

<< ...thought the short term chart was "technically" interesting. >> Ross -- I thought I was going to get my much anticipated XTL buy signal the other day on MCOM, but it didn't happen. It looked like this trading range was forming a contracting triangle, but it failed to break out on this recent up-move. I think MCOM would have broken out for a good upside run if investors were convinced that the Autobahn rollout was really being accelerated. Although it seems like a lot of right actions are being taken to accelerate the rollout, the timetable is still looking iffy for year-end. So, the stock is probably good for short term traders like yourself, trading this trading range, but for longer term investors like myself (sounds contradictory since my two trades in MCOM so far have been very short term, but my aim is to be a long term investor), I'm still on the sidelines looking for a good entry point. I'm not sure what to think about the Elliott Wave pattern here; I thought MCOM was forming EW2, but it sure is a long, drawn-out EW2, if that's what it is. It is unusual for EW2 to be this complex, so I am starting to look at other alternative wave counts. Best, Rex