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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Sir Francis Drake who wrote (23559)	6/2/1999 6:26:00 PM
From: Sir Francis Drake	Respond to of 74651

<OT> Teflon – did you pick up any extra SFE today? I did a quick trade based on some TA that indicated that 65 will hold on a first attack: Message 9652153 It hit 65 1/16 but didn't break it, and I picked up a bunch there for a quick trade. Still, I must say, the sub notes might scare some traders short term (or they'll short). Now we'll see how strong the stock is – CMGI sold off today, and we can be sure that if the market sells off again, the 65 support will be attacked again. This might be a good time to protect the shares (and BTW, the IPO plan must be considered good PR today). In any case, I've traded it down low enough, so that I don't care how low it goes – my mean cost is at this point at 35 1/4. The official closing high was at 115, and intraday 119. A 50% retracement would place SFE at 58 or so. So if the first line was at 65, the second would be at 58. Anything below that would discount any IPO benefit at all. Basically, a break below 65 will bring it into oversold territory, and I'd expect it to bounce from 58, and that's a trading opportunity. If the market stays positive, SFE should settle somewhere in the low-mid 70s. The nets just pulled it off today, and this is a pretty critical time. Morgan