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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: gc who wrote (3318)	10/28/1998 6:54:00 PM
From: V3	Read Replies (3) \| Respond to of 4509

Mr. gc, if my memory serves me correctly, you've stated a while ago that stock price of PSFT cannot be manipulated by posts made here. I disagree. It is my understanding that stock prices are determined by pychology of investors/traders. If traders/investors/whoever decides to act on their belief, then the price of any stock can be changed(at least for short term.) Large volume stocks such as PSFT may be more difficult to manipulate because to do so, one would have to convince larger number of people to buy/sell. But for light volume stocks, this is very easy to accomplish. Just ask Mr. Andrew Vance, Steven Messina, Mark Nass, jd, and other old-timers(including myself) who once used to own shares of Consygen Inc. Ask them about the notorious Shawn Murphy and his master plot. These people are SI members. As for PSFT, you believe this stock is on its way to low teens. I am not looking for an argument with you but I, again, disagree. Such event will not happen unless enough investors/traders are convinced into dumping their shares of PSFT in massive quantities and this won't happen unless PSFT gives a bad earnings report(bad enough to break the 18 support -- which is a very strong support if I may say so). I'd like to say more, but I just haven't got the time. With another exam tomorrow and another one next week and another the week after that, I have barely enough time to breath myself. But I'll still continue to check on the price of this stock. I am still betting PSFT won't break 18 support level and I have lot of money sitting on this stock. I have just established the short term price pattern and it looks like this stock will trade between 19 and sub-25. currently on its way up slowly, once PSFt reaches 24, it will probably decline rather sharply again on "negative news of some sort" and head back down to 19 to 20ish level. and back up again. Everytime this stock repeats this cycle, I expect slower transient. But there's a limit to how many such cycles PSFT can go thru before the next earnings is released. bye. gotta go. Robin