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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (1900)	2/9/1999 9:10:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 30916

12-13 only in a total meltdown of the market will you see that area again. Exactly what did else did you think I was talking about? Have you been following the TA on the major indices? Take a look at the Russell 2000. It just broke below its current price channel and its next support it at 390. This is very bearish as a signal for the overall market being at a top. However, further analysis indicates that the OTC COMP could retrace to 2,200 and if it doesn't hold there, the next stop is 2,000. The Dow needs to hold 9,000 or it goes to 8,800 (unlikely) and failing that (likely), to 8,500. But my main concern has stemmed from reading the Financial Times of London this morning. It seems that Japan will be issuing a ton of new bonds this year (no surprise) which will reach a level where their debt exceeds that of the US (that was a surprise). For them to maintain this debt, I sense that US govt bonds are likely to come under extreme pressure from Japanese selling (so they can use that money to purchase their own debt like we do here in the US). US bonds are sold by Japanese, interest rates go up to encourage buying of those bonds by other parties, money moves from the equities markets to bonds until we find a new equilibrium point between bonds and equities. That the scenario I see. And that means a long-overdue correction. Even IDTC will be slammed by a deflation of the overall market, especially the hyperbolic internet sector. The next couple of days/weeks will tell. I'm looking into BEARX as a safe haven. We'll see if I'm just running scared or if we're looking at another July scenario. The NYSE A/D line would indicate a repeat of July. But after the correction is over, then we can pick up the pieces and see which companies are set to assume leadership. Still very bullish on IDTC, but I just feel it will become a victim of market pressures beyond its control. Good luck!!! I'll be hanging around watching from the sidelines for awhile until I figure out which way the winds are blowing. Regards, Ron

To: Secret_Agent_Man who wrote (1900)	2/9/1999 9:12:00 PM
From: Alexander Hardin	Read Replies (1) \| Respond to of 30916

The decline of IDTC was also on pretty low volume also. As long as it holds the support levels, an upward trend can be expected (if it breaks the support, you could be right). The major resistance for IDTC is around 22 and as long as the market doesn't get crushed, IDTC should be able to trend up towards 22.

To: Secret_Agent_Man who wrote (1900)	2/9/1999 9:21:00 PM
From: Hawkmoon	Respond to of 30916

Also, You might want to take a look at IDTC's price channel. It broke through the bottom and MACD is moving into another downslope which indicates lower prices. Sorry. I'm just calling them as I see them. If the market recovers tomorrow, short-term we may see some relief. But we need a BIG DAY TOMORROW... A really big day.... in order to regain momentum in the overall markets. Kinda ironic isn't it?? We know Clinton isn't going to be ousted this week and yet we're still trending downward. You'd think we'd be seeing more bullishness. Guess the markets factored it in. Either that or the Smart Money really has some morals and will sell off as a protest against Clinton remaining in office... <vbg> Regards, Ron