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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: John F. Dowd who wrote (11704)	10/23/1998 12:46:00 PM
From: Gerald Walls	Read Replies (2) \| Respond to of 74651

Do you know what caused the low opening of MSFT this AM? Microsoft ran into heavy resistance at 110 yesterday. I don't know how many blocks came in at that price but freerealtime.com showed large ask-side size compared to bid-side size every time MSFT ran to 110. 110 also closed a candlestick gap (the gap is between the bodies of the candles even though the shadows don't gap) that occurred on the way down a month or so ago. The mo-mo traders that piled in on the earning-related news are quick to get out when a stock hits resistance. We've probably hit a short-term top until the overall market heads higher. That's my guess. I'm holding.