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Strategies & Market Trends : FAMILY GOLF CENTERS (FGCI)-Expensive!! -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (73)	2/17/1999 7:28:00 PM
From: Dave Twibell	Read Replies (1) \| Respond to of 87

Level II look at today's action if anyone is interested. Stock showed some pre-market interest, but this quickly evaporated as it became obvious the market was going to open sharply lower. Quick early selling and then a firm bottom off 7. Buying ran into a wall when OPCO held 7 1/4 in the face of a ton of buying, obviously working a large order for an institution. JEFF and HRZG were also big seller today. The close looked very strong, though, with none of the major sellers anywhere near the ask, and a sharp move up to 7 in the final minutes. There are obviously buyers at these levels, even today when most buyers were taking the day off. The big questions are whether the institutions are done selling (hard to tell at this point) and whether the market will turn positive encouraging further buyers to jump in. Lots of cash on the sidelines right now, it's got to go somewhere. Dave

To: Marty Rubin who wrote (73)	2/17/1999 7:31:00 PM
From: Paul A	Read Replies (1) \| Respond to of 87

im still holding! I averaged down at 6 11/16 when I saw it did a bottom 'thing' but decided to take that profit at 7, and wait to see what tomorrow brings. Im still holding my original position from 7 5/8 and will wait for $6 to make a decision to either be stopped out of keep adding and start a large position. Todays close was actually rather good considering what happened with the market today.. Once the sellers are done, we should stabilize and I think $7 1/2- 8 1/2 is a much more realistic place to 'hide' for now, and ill be really surprised to see us drop below 6.. Although, if it DOES tank below $6 ill probably make an exit with it as well since at that point, someone knows something we dont and id rather not find out in a few weeks.. I still maintain that this thing is so over done it isnt funny.. There is value here. Hell, DELL in my opinion could easily afford to be trading at $20.00 a share and still be overvalued (pre split im talking!).. obviously there is a reason DELL has such a premium, but lets be realistic... FGCI is getting crucified here, and $7 is ridiculous if we all have this thing focused correctly!