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Technology Stocks : Neomagic Corp. (NMGC) -- Ignore unavailable to you. Want to Upgrade?

To: jgideon who wrote (2863)	4/16/1999 4:26:00 PM
From: shk	Respond to of 3645

My own take is that, following yesterday's drop, when it opened down and immediately dropped lower than 12 1/2, there was a mini panic among some small investors. Remember that on the day after earnings when it opened at 14+ and then began its ugly drop to the 9's? Well, speaking for myself, this morning's early trading made me think, "Oh no, here we go again." In other words, I think the explanation is more in the "logic" of psychology than in the "logic" of options. Until there's a clearer sense of what the current support level is going to be, and in the absence of any news (e.g., another good quarter), there's not going to be much confidence about where the price will be day to day.