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Gold/Mining/Energy : Royal Group Technologies, Ltd. (RYG) -- Ignore unavailable to you. Want to Upgrade?

To: denekin who wrote (171)	7/29/1998 10:21:00 PM
From: Julio P. Antelo	Read Replies (2) \| Respond to of 199

Since when does buy mean 'sell'. Good question, I was wondering the same thing. Fundamentally, little has changed with the company but apparently someone took this as an excuse to sell. And that someone had to be one or more heavy-hitting institutional players. Keep in mind this issue has been trading about 40k shrs in a session; today I checked the board and over 1M shrs had traded by 12:30! I agree this is an enticing price, but are the big boys finished with their selling? Technically the stock looks very weak: it has broken thru its 200- and 50-day mov avgs; it has made a series of succeeding lower highs (35, 31, 29) since early spring and it has crashed thru its first support level at 24. The next support level is around 22.25 - 22.50. If it breaks that we may see this issue return to $18-$19 shr. And all this without any negative announcements from the co. I'm staying away until the smoke clears. Julio