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Technology Stocks : FileNet (Nasdaq: FILE) Time to Short? -- Ignore unavailable to you. Want to Upgrade?

To: Evan Dimmer who wrote (3)	12/12/1998 6:55:00 PM
From: jackhach	Respond to of 12

The stock has overshot its support level by over $3.50, and this takes into account Friday's excess volume. True ownership now exist at around $6.80 from a prior $5.45 or so, however, the current $10.375 price provides a profit of over $3.50 (>50%) a share for many current owners, and almost $5.00 (=90%)on the just prior round of true buyers. Unless there is some "real" news about to be announced that would support this latest round of buying -- the stock will be below $8.25 within a few trading sessions. Just hate to see anyone buy into any baseless hype -- as I have done a few too many times... Keep in mind, that I never post in support of shorts. Shorts play upon other's poor discretion IMO. These particular technicals are not the end all in analysis, however, they have kept me out of a whole lot of trouble since I've incorporated them into my overall stock evals. -JH