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Technology Stocks : SIEB Siebert Financial Brokerage -- Ignore unavailable to you. Want to Upgrade?

To: EyeDrMike who wrote (172)2/17/1999 5:56:00 PM
From: Jeff Sutton  Read Replies (1) | Respond to of 284
 
I lost money trying to play this one on the way down ... always a big mistake. Hope you can avoid my mistake!

The pattern seems to be a point or so drop, then a sharp bounce back up followed by a drift back down to the low ... then another sickening freefall a point or so below intraday support ... and then (repeat pattern).

The chart says no real support until 10 or 12. I'd certainly short this baby if I could!

Good luck all!



To: EyeDrMike who wrote (172)2/17/1999 6:03:00 PM
From: HerbVic  Read Replies (1) | Respond to of 284
 
Should we expect a bounce as shorts cover and move on? That may institute a support line at the psychological value of 15 considering the changes in the market, and changes in perception of SIEB and her industry.

If we estimate the market to be bearish for the rest of the week, turning bullish next week, SIEB could find support at 15 to go long and spike above 20 for a short short.

HerbVic,
hoo roo


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