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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (8194)	8/30/1998 12:50:00 AM
From: LTK007	Respond to of 29382

PSFT sell-off is appears to be classic panic oversell,and perhaps margin calling involved but it is now 30 points off it's year high-- now at 27+---- I and others are observing is that NASD stocks by and large are treacherous in down market--aside from CISCO,MSFT,DELL and a few others,the carnage in NASD stocks is unreal--someone quoted a 43% sell-off when one eliminates the top tier.Max

To: Ken W who wrote (8194)	8/30/1998 2:15:00 PM
From: Sergio H	Read Replies (1) \| Respond to of 29382

<I will be going short on OMPT Mon. at 13....> Ken, look at the 3 year chart for OMPT. It shows that the stock has broken under support at 15 and is trading at a new 52 week low. Look at the short position on OMPT. Short covering will drive the stock up. Since it hit a new low on Fri., I would suspect that some short covering is already taking place. If the market conditions continue last week's trend, OMPT will follow the market, but it's too risky to short a stock that already has a large short position and just hit a new low. quote.yahoo.com