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To: Bruce Cullen who wrote (2292)4/19/1999 2:14:00 PM
From: Ron Harvey  Read Replies (3) | Respond to of 13157
 
To me the chart suggests support in the high 16's, which is where the price is right now and where I added a few more K. Today's trading is far less a reaction to fundamentals and the unfolding story than trading currents of a volatile stock after a news announcement that had smartly boosted the price. It'll take a day or two to settle down some, I think. Meanwhile, I wouldn't read much meaning into the fluctuations.



To: Bruce Cullen who wrote (2292)4/19/1999 4:05:00 PM
From: Mike Fredericks  Read Replies (1) | Respond to of 13157
 
Well Mike one should look at closing prices but I have learned that the bottom of the drops on the intra-day chart would suggest a minimum of 16 3/8 I drew a line of support. Thus the theory... but theories are not always my best friend. :) Just trying to add input. Good luck all.

When I look at support lines, I look at the trend of the lows more than the trend of the closes. I don't look at intraday trend so much except for the very immediate future (like 10-20 mins). The last low intraday low was 13 1/2 on Thurs. Today's 14 1/4 intraday low tells me we're still in an uptrend (the low is higher than the last low.) The close however was lower than Thurs close, so I'm not all happy that this stock is going to continue its run-up. Will be interesting to see what the fall-out is from the conference call and the NAB conference.

-Mike (who would have been very happy to be wrong.)