Safeguard Scientifics SFE Message Board

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Technology Stocks : Safeguard Scientifics SFE

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To: michael r potter who wrote (2722)	4/28/1999 6:12:00 PM
From: michael r potter	of 4467

SFE has been in a tight trading range. I have viewed the technical situation as neutral, waiting for the market to tell me what direction the break would be. This is a very early call based primarily on the last two hours of trading action, but IMO the technical action indicates a break-down with an initial target being the 50 day moving average which is currently at $68-70. Would not bet on that holding. I would not take a further deterioration in SFEs price [probable at the opening tomorrow] lightly. I believe the serious down day in the Nets approximately 10 days ago, was wave one down. The recovery was wave two. Third waves are usually the most powerful so if correct, there should be a very sobering and sudden downdraft in internet stocks soon, probably accompanied by some near panic emotions on the part of those with an overweighting. Maybe this won't happen, but I would be on high alert for signs of this scenario unfolding and take it seriously. As we sweep into May, what will the new month bring? Could be showers [of margin calls] To be blunt: Not a time to be strung out on margin in high PE [or no PE] stocks. Mike

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