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Magal Security Systems Ltd. Message Board

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  • mcmurfee mcmurfee May 27, 2004 11:44 AM Flag

    What is goin on

    This is what I think happened: A few hedgies saw the momo Friday and decided to go along for the ride. Yesterday they shorted after seeing it would not push through resistance and started hitting bids around 2pm to "make it both ways". Buying pressure was too strong though and we finished with a small upper shadow. Today, they waited until lull in volume and clear profit taking , and hit the bids again which took it down fast as stops tripped. I see good support around 18.65-19.00. LT MAGS should do fine.IMHO.DD.

 
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