Glenn, what a head fake AMZN's Thursday afternoon's rally was.
I am still trying to figure out the cause for that. It did "suck" me in at a bit higher price. I suspect I will never find out the cause.
First pass,
EBAY, DCLK CMGI, VDAT, CNCX, SONE.
These are still above their 200 day moving average, below 60 day MA, RS in the 30's
and may test the 200 like the others have. Your thoughts?
Except for EBAY due to being down, I suspect the nets have close to bottomed. AOL could still go to 90. YHOO and AMZN look ok in here. The second tier nets likely corrected first so although they are not at their 200 EMA, they may never get there. I would not go short regardless. I am risk adverse to that now.
If you want to go short, my would be more inclined to look at COOL, EFAX, EPAY and ONSL. I doubt there is much risk to upside but your short would be slow coming.
Your thoughts now please?
Glenn |
