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Technology Stocks : Veeco Instruments-Who? -- Ignore unavailable to you. Want to Upgrade?

To: Mark Ivan who wrote (1841)	2/12/1999 9:41:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 3069

Mark, sometimes the technical breakdown of a stock indicate a change in the fundamentals, you may want to listen to them. I took my loss and bailed out at $46.875, but then I like to sleep well at night and rather take a 8% or so loss and keep my powder dry for another hunt. The way I see it, we got very close to a major resistance (which I think is at about $44.5, and if it breaches it so close to the secondary, it means that the underwriters were not willing to stand behind their own offering. I have seen that often, for instance CYRX (R.I.P) and CYMI had precipitous declines after they dished out to the public big chunks of convertible debt, just to cite two examples. I did not think it will happen here because of the struggle Merrill put in to protect the $52 level, but I think they have withdrawn and something might temporarily negatively affect this stock. If the Maginot line at $44.5 does not hold, I would not be surprised to see the stock under $30 within three months. Zeev