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Technology Stocks : Melita International (MELI) -- Ignore unavailable to you. Want to Upgrade?

To: M. Carver who wrote (88)	7/28/1998 12:25:00 AM
From: pezz	Read Replies (1) \| Respond to of 203

Mark,believe it or not but today's action wasn't as bad as it might seem.It sold down to 12 3/8 bid then traded about 1/3 of todays volume at the bid price but did not break the bid.I think there was a large player sitting on the bid.The bid and ask both moved up after that but no one sold into it.I think we may have seen a double bottom here[more or less].Perhaps there will be some mutual fund nibbling at these prices.After all we can't be the only ones to see the potential here. No matter how one looks at this, the downside risk here would seem to be rather small.The stock is surely over sold at these prices.Even so the market for these small caps and the weak group may mean only a bounce before some dead time. Pez