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Technology Stocks : WTT-Wireless Telecom. -- Ignore unavailable to you. Want to Upgrade?

To: Edward Boghosian who wrote (2214)	8/26/1998 9:25:00 AM
From: Richard Estes	Read Replies (1) \| Respond to of 2426

You and others should never take more than a 15% loss on a stock. Let this be your lesson. I think the last time I commented on WTT, I suggested a buy at 2.88 and and sell at 3.87 saying it should return to lower lows. Then you could make this buy at 2.50 and enjoy the move from here. Never buy a stock that seems too low, never sell one that seems too high. ====================================================== To: ole 49r (2126 ) From: Richard Estes Tuesday, Jun 9 1998 7:15PM ET Reply # of 2215 The oversold condition makes me expect a V shaped turn around to the 3.75 to 4.50 area. But the bottom isn't in. The best way to play WTT would be to use a 8 EMA with a 7 day lead. short enough to ride close, the lead slows it down some. If your software plots beyond the last bar, you know where the buy point will be for 7 days out. Bad news: the fall is so much, so fast, the MA is at 3.58 for tomorrow. People jumping on early face further risk. Even the bounce, I expect, can be a short lived, it would form a wave 4 up which calls for a return to the low at least in the wave 5 down. An exit might be to use the above MA or set a max/min percentage return say 25-50%. All this is short term trading not fundamentals. A stock SKYT has never made a red cent in its life, yet it has made the trip from 5 to 30 about 3 times. When you see such examples, you know price and volume are the only facts. For those holding big losses, you have entered on some view of this company, not on a measurement of price. And now your fear of saying "I was wrong", has caused your capital to be tied up and the possiblity of never getting your capital back in whole. depending on how much you have placed with WTT, you have reduced your ability to use that capital in the biggest bull in history. The MA above would have got you out at 7.87 on the 10th of march and kept you out. If my quick bounce doesn't occur, a basing action could go for weeks and months.