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

To: Susan Saline who wrote (3356)10/30/1998 10:36:00 AM
From: V3  Read Replies (4) | Respond to of 4509
 
I need some assistance. Would anyone care to help?

PSFT is currently experiencing resistance at 22. About couple of days ago, I predicted that this stock would slowly rise to 24~25 range and drop rapidly down to 20ish and start this cycle again until the next earnings. I don't see much excitement to this stock as long as the 22 resistance holds. What I need to know are the followings:

1. Is somebody shorting the heck out of this stock at around 22?

2. DOW and NASDAQ (but not sure about S&P500) have been rising for the past few days and PSFT usually follows the general market(at least that's the pattern I've observed over the years.) Is there a way for somebody to determine the relative strength of this resistance at this level? I suspect the 22 resistance level isn't very strong and can be easily broken but I would like a confirmation from someone.

Thank you. gotta go. bye.

Robin



To: Susan Saline who wrote (3356)10/30/1998 2:46:00 PM
From: ioioioi  Read Replies (1) | Respond to of 4509
 
Hmm, Sounds like the consensus is hold and wait. I do have a medium term outlook, but I cannot see the point in staying in PSFT for 2 years getting back to 45 when I could take a loss and make it up in some other stock like BRCM, or RMBS or DELL.

Kinda like poor man's momentum path I guess.


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