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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (10910)	5/22/1998 1:22:00 AM
From: Robert Graham	Respond to of 14631

Good point, Michelle. I was concerned about the outlook for this sector. Now that I see the funds selling off the techs in their rotation, I am thinking this "storm" for Informix is going to last a while. I am happy that there are such instruments as options. Incredible inventions as they are. Bob Graham

To: Lizzie Tudor who wrote (10910)	5/22/1998 1:55:00 AM
From: Robert Graham	Respond to of 14631

Perhaps we will see an interim reversal tomarrow. The stock is oversold and has hit a congestion area at 7 and below which the price has remained on top of. Notice the narrow open and close in the middle of the trading range. There was allow of shares exchanging hands and I saw for a good part of the day a narrow trading range where the price held well. I suspect more selling interest will come tomarrow. But if the selling were to temporarily abate, perhaps in the afternoon, I think the price would move up to at least 7.5 even under light volume. I do think even in this case selling will follow at any attempt in moving up past 8. It is important that the price remains at 7 or above. If it closes below 7, then 6 becomes possible. At 6 the price of the stock will meet allot of support. The best scenario would be for a temporary reversal by closing above 7.5. It is important for me to cover at 7 before the move up toward 8. If I cannot obtain at least 1 point profit, I will not cover and ride through the possible move up keeping my option position open and wait for the next selling. If it breaks through below 7, which would surprise me, then I will hold off until 6 is reached. I do not see the 6 3/4 price counting as a breakdown below 7 becauseof the obvious games being played by the MM at the time. The move from 7.5 back down to 7 was predictable. Bob Graham