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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Melissa McAuliffe who wrote (1668)	7/29/1998 11:29:00 AM
From: Intel Trader	Read Replies (1) \| Respond to of 4509

Melissa, my diddlings were from yesterday afternoon. Here is my thought on TA, and application to real life: a. the stock price (any stock) goes up down or sideways over a period of days. We know the recent history. b. the stock is dropping or rising unexpectedly. c. there is no news, it simply appears that market conditions and selling due to sympathy in related companies may be going on. d. the stock will stop selling at some point (?) and then will go either sideways, north or south from that point. e. I don't think tech analysis in some cases is all that great to predict future swings in prices. f. Having said all this, I'd be nuts to make a trade without looking at a company's history. You may be right re 31, if 35 fails today -- who knows?! We could face the fate of similar companies PMTC AFCI CD that many had faith in and in one fell swoop lost billions of market capitalization over night. In a way, I feel some satisfaction that all this activity happened (yesterday's and today's price action) during trading hours when the little guy had some choice in the matter, rather than before hours opening say 5-10 points lower. Regards, it

To: Melissa McAuliffe who wrote (1668)	7/29/1998 12:01:00 PM
From: Carmine Cammarosano	Respond to of 4509

Melissa, seems like Wall Street does not want to find themselves in a position like we saw with CA, ie software company with high PE and then the negative surprise...PSFT is/was trading at a high PE and Wall Street is not going to wait around for the negative news...High PE = no room for error...