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

To: V3 who wrote (3362)	10/30/1998 10:51:00 AM
From: gc	Read Replies (1) \| Respond to of 4509

Robin, as I explained to you in an earlier private message, I don't see the resistance level at 25. The trading range is more likely in 19 - 22 than in 19 - 25. Normally, you don't see a 30% trading range. 15% is more likely. Plus, 25 is a little too high for a stock with 25% growth and with a murky outlook. Yes, I am shorting it at 22.

To: V3 who wrote (3362)	10/30/1998 10:53:00 AM
From: Melissa McAuliffe	Respond to of 4509

Robin, This has only been for the last two days so I wouldn't worry about it. It might do this for a while...who knows.. Stocks can slowly rise but sometimes they take a stop along the way. And it might take a step back too. You can't rely on what PSFT did over the past several years. Things are different now and you have to relearn PSFT and its new patterns if you want to trade it. Personally, I think there might be better stocks to trade at this point. Just MHO.

To: V3 who wrote (3362)	10/30/1998 11:57:00 AM
From: Chuzzlewit	Respond to of 4509

Good morning Robin, In answer to your questions: 1. Is somebody shorting the heck out of this stock at around 22? It could be, but it is impossible to say since the NASDAQ only reports once a month and closes its books on or about the 15th of each month. You can check short positions at nasd.com 2. I suspect the 22 resistance level isn't very strong and can be easily broken but I would like a confirmation from someone. TA is all smoke and mirrors. it wraps itself in the jargon of statistics and probability theory but is unable to provide that seminal piece of information that all statisticians require: statistical proof. This is a long winded way of saying that concepts such as "resistance" and "support" are meaningless. In my view, PSFT will start to increase at the time that the investment community has better earnings visibility (which is a fancy way of saying there is less uncertainty surrounding earnings forecasts) and there is a generally improved outlook amongst ERP vendors. Unfortunately, these issues are usually appreciated after the fact, so it is likely that once the information becomes available the stock price will move very rapidly. TTFN, CTC