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Technology Stocks : THQ,Inc. (THQI) -- Ignore unavailable to you. Want to Upgrade?

To: Marc Newman who wrote (10936)	5/27/1999 2:46:00 AM
From: Apakhabar	Read Replies (1) \| Respond to of 14266

Perhaps my perspective is skewed because for once I was not holding THQ during a severe price decline, and I managed to buy a bunch of shares at good prices (avr. 22 1/8). To repeat myself: the drop to 21 1/2 came on less than 100k shares volume. From there, the price rose 2 points on over 600,000 shares. It is wrong to just look at today's volume, and price decline, and conclude that we had a massive sell-off! I believe the people selling on the way up between 21.50 and 24 were a) a few traders who wanted to leave the day flat; and b) THQ investors who have suffered great, inexplicable declines in the past and simply have no stomach for this sort of volatility coming from a stock whose fundamentals are so strong. It seems clear to me that THQI traded down in sympathy with the morning panic and, when the 200 DMA was reached, traders who follow THQ just jumped in. I mean, those bastards at Wedbush never go out on a limb to buy THQ shares, but they were aggressively trying to buy (IMO looking at the level II) in the 22-23 range. We all know THQ trades crazy and any predictions three months out are anybody's guess. But today showed me that 21.50 to 22 is rock solid support. Whether or not you think 23 or 24 is a good buy is of course up to you but the answer seems obvious to me.