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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: cool who wrote (3642)	8/29/1998 7:15:00 PM
From: Strategy	Respond to of 10081

Technical Thoughts... Chart looks pretty sloppy. Looks like we have some size at 6 bucks now. Will they chase it? Not in this market - way too much volatility. Technicals are turning up. Positive divergences in both OBV and RSI. Gap up and through 233 day moving average on Friday makes the daily chart look less nasty. Resistance at 8 bucks and falling . Almost made the most actives list!! Intermediate term: looks like a plane-jane continuation/consolidation pattern after a short term A-B-C correction. Looks like there could be a diamond forming, but they're pretty rare. If so, we should have several tradeable rallies. Pattern is fairly broad should take minimum 6 months to resolve. Seems reasonable given the fundamentals. For the guys who believe preservation of capital is important: Strong selling in U.S. dollar Friday. OEX (S&P 100) closed below 520 (automatic sell signal w/ target 300). MAJOR trendlines snapping all over the place. Russell 2000 is going down in flames. Looks like it may find some legs at 335-340 on Monday. Set stops you can live with. This market is not a crowd pleaser. Good luck to all!!