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Technology Stocks : Network Associates (NET) -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (4140)	2/3/1999 10:54:00 AM
From: joshi	Read Replies (2) \| Respond to of 6021

Dropping like a ROCK!!! Gaining MOMENTUM! Does someone know something? or is this technical?

To: AlienTech who wrote (4140)	2/3/1999 7:01:00 PM
From: Toby Zidle	Respond to of 6021

AT, either you're very right and the $45 support sets the low which can hold for several months in the future -- or you're somewhat right that you can make $8-10 on the stock for a short-term move -- or you're financially impoverished if NETA falls to under $45. Unfortunately, the great up-trend of Oct/Nov/Dec. has evaporated and has been replaced by a lesser down-trend. Notice that so far this year each recovery has failed to penetrate the high prior to the immediately previous price drop. Consequently, I have to put a price target at $53-55 (at most), despite what some analyst said today ($60?). In my mind, NETA has been changed from a long-term keeper stock to a shorter-term cyclic trading stock. And there's the chance that the $45 support won't hold this time. Then a breakdown to $20 - $30 is distinctly possible. If you're buying, you definitely ought to consider that today we had a big gap down on the 2nd largest volume in five months and that we closed near the low of the daily range. That's BAD! Before I'd fish in this bottom, I'd wait to see if NETA can recover enough to beat todays high. In other words my Buy order would be conditioned on a price of $48 or higher. And I'd be VERY careful to pull the plug quickly if NETA falls under $45. This could be a heck of a BAD time to 'load up the boat', as you say.