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Technology Stocks : FNCM Finet.Com
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To: LT who wrote (2245)8/3/1999 2:49:00 PM
From: Jon Stept   of 2420
 
LT, re"dead cat bounce..."

Hi LT,

I am not convinced this is a dead cat bounce, although it appears that way. I think the price action is based on sector concerns.

This stock has been hit hard recently (past 2 weeks) because of the general tech sell-off and financial sector sell-off.

Look at other stocks in this sector, and you will see they are behaving likewise.

Earlier this year the internet stocks underwent a general 50% correction... many did not recover, especially in the third tier, like FNCM. Who knows if that 50% was enough or if more is needed to bring these stocks "down to earth".

Just my opinion.

Jon :)
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