I think above 592 to 525 good visisbility on DOT..and today's recommendation..
Keep an eye on shares of eBay, as it appears that the consolidation has
begun. Action over the past couple of days has been somewhat encouraging.
Even after Friday's negative news, stock managed to move higher. Shares
closed right at its downtrend line, which has been a problem for the stock
the past several weeks. A close through this level would improve the
technical picture somewhat and would project a target of $106-$107.
Keep an eye on shares of CMGI, which are trying to form a base at its
200-day moving average from which a relief rally could be launched. CMGI
traded below this level today on an intra-day basis, but the stock made a
nice recovery by the end and closed above its 200-day moving average. This
increases the odds of further rebound in coming days. A rebound to low $80s
is likely on a near-term basis.
Keep an eye on shares of AOL, which acted very well today. After being down
several points on an intra-day basis, stock made a strong recovery by the
end. More importantly, shares closed right at its 200-day moving average.
This area provided support to AOL on each of the past few sessions. Based
on the action at this level, it appears that AOL could launch a technical
rebound, which would relieve some of the oversold situation. On any
rebound, initial resistance would be around $91-$92 and then at $105.
Today's action in selected Internet stocks might indicate that those stocks
might have reached a near-term bottom. They might provide some trading
rally.
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