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Technology Stocks : PROGRAMMER'S PARADISE (PROG) -- Ignore unavailable to you. Want to Upgrade?

To: Razorbak who wrote (180)	1/11/1999 9:22:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 2383

Hi Razor, here I just responded to you on the HEC thread and here you are. A lot of people are disappointed by todays' move, I am not. The MM must make money as well and they were caught by surprise on Friday (the storm started mid day or so). They dutifully raised the price to the level of pain and shorted even more, and then started collecting their chip all day long. The market helped them quite a lot most of the day. Any day this stock is making a new all time high, is a good day in my book, even if it is a black candle (it is, is it not?) I still think that we could go back to about $13 without violating any bullish technical patterns, so, as I said this morning, there is no rush to jump in. I think we have a week maybe two, and with the technical position of the market becoming extremely precarious (what is it 7 or 8 days in a row that the NAZ is making new highs?) and thus retrenchment, IMHO, cannot be avoided. I am not trading it yet (but I can change my mind if we get an explosion from nowhere), since I still think this puppy is extremely undervalued. I do not mind the fact that management is not coming out every day with each "partnership" they form. As I mentioned today, they have many partners and order fulfillment outlets (like DRIV) and their marketing people are working on getting more products through the channels, and through their massive list of existing (mostly quite satisfied) customers. Zeev