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Technology Stocks : Neomagic Corp. (NMGC) -- Ignore unavailable to you. Want to Upgrade?

To: Taro who wrote (2257)	12/28/1998 4:48:00 PM
From: vincenzo	Respond to of 3645

Taro - Neo management stated in the last conference call that the new product announcement would not happen until early 1999. I'm hoping that they will announce this somewhere around the time of the earnings release in early February. Neo followed the SOX.X today on low volume. The SOX has been retreating since it formed a double top around 360 a few days ago. As I mentioned earlier, I expected Neo to test the bottom of the channel ~$21 if the SOX continued to be weak and it has. I now expect a bounce soon based on my indicators. I will be looking to enter early tomorrow if the SOX shows signs of turning around. The rising channel Neo is trading now ranges between $21 and $25. When the SOX makes it's next strong move up look for Neo to push to the top of this channel. If the SOX continues to break down, I will stay on the sidelines with this stock. vincenzo