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Non-Tech : NovaCare Employee Services (NASDAQ:NCES) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Hufnagle who wrote (265)	3/2/1999 10:36:00 PM
From: Todd D. Wiener	Respond to of 376

It's possible that an institution is taking a large position in the shares. Still, I think it's unlikely to cause the stock to rise 60% in a week. Maybe there's a rumor of a takeover. Maybe momentum investors have moved in. Maybe the market is noticing the undervaluation in NCES shares. I have no idea, except that the stock is severely overbought. The next resistance level is $8.75-9.00. After that, it's $10. I'd be surprised to see the stock reach new highs before consolidating a bit. Todd

To: Steve Hufnagle who wrote (265)	3/2/1999 11:25:00 PM
From: Todd D. Wiener	Respond to of 376

Some thoughts: biz.yahoo.com I looked at NCES' peer group, and they haven't run up this week, so it's certainly not an industry group thing. It's possible that institutions are tired of lousy results from NCES' competitors, so they've finally shifted their PEO investment focus to NCES, which is the best performing company in the group. Perhaps the big money is taking the advice of BBRobertson Stephens, which recommended a month ago that investors should rotate out of other PEOs into NCES. biz.yahoo.com I must also add that NCES is no longer a bargain compared to its peers. It now trades in line with them. It should probably be worth a premium, based on its rising margins, but I'm not sure how much more the stock can rise. Todd