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

To: The Player who wrote (3423)	11/2/1998 5:36:00 PM
From: gc	Read Replies (1) \| Respond to of 4509

Player, you are right. I can't be right all the time or I will be the richest man in the world. I like their My Peoplesoft strategy. But, it will be too late to stem revenue erosion. Still expect stock to go down before it goes up again.

To: The Player who wrote (3423)	11/2/1998 5:40:00 PM
From: V3	Read Replies (1) \| Respond to of 4509

This confirms my suspicion of weak resistance at 22. I now expect this stock to rise slowly to 24 to 25 range within the next few days. Then I expect short sellers to move in to bring the price down to low 20s and repeat the cycle until one of the followings: 1. Next earnings is released. 2. "Major" news from PSFT which will influence the investors' outlook on this company. From my observances in the past, this stock's typical cycle length is about 2 weeks. Robin p.s. My predictions are based strictly on trading patterns from the past as well as my sixth sense(which are quite often unreliable). I do not know a thing about TA, also known as chart reading. I once tried to learn to read charts and I gave up. It was too much like astrology. But I do believe in support and resistance.