AOL.. would like to go long this morning but waiting cautiously. EBAY, CMGI and YHOO.. all puts up from 11 points on Monday, Did not buy any nets even at the days lows.. Others bought AOL at 92 to 95 only to see it down to 90 at day's end. So although I only got about 5/8 of the EBAY profits, I didn't lose by buying before the bottom was reached, Now the futures are showing a bias downwards (Nasdaq futures down 2) and I am really looking forward to selling them at a further increase but would expect a rally around 10:30 a.m. If they rally I will go long but will not be doing anything fancy.. Very few traders actually understand what is happening and are only taking potshots at these plays, sometimes winning but mostly losing but claiming to know what is going on... that would be cause for mirth, but the individual investor is being led astray by 'predictions'.. by self proclaimed gurus that were 'missing' while SWS, NTBK, BNBN, AOL were tanking.
I don't know what will happen but would hope that as July earnings seasons draw nearer, the earnings plays will afford more profits as they have in June and of course the Internets also giving us some gains. I think the fractional gains in the European markets this morning will be repeated in our markets.
touted and hyped and results:
ITG
DATE CLOSING PRICE OPEN HIGH LOW VOLUME
-------- ------------- -------- -------- -------- -----------
6/14/1999 34 36 11/16 36 11/16 34 266,300
6/11/1999 36 7/8 39 39 36 246,200
6/10/1999 39 40 3/16 40 1/4 38 7/16 138,300
6/09/1999 40 7/16 42 5/8 43 3/16 40 282,500
6/08/1999 42 9/16 43 3/4 43 3/4 41 5/8 264,200
CMGI
DATE CLOSING PRICE OPEN HIGH LOW VOLUME
-------- ------------- -------- -------- -------- -----------
6/14/1999 75 7/16 87 1/2 87 3/4 75 11,173,700
6/11/1999 89 3/4 95 1/2 96 1/2 88 3/16 10,965,500
6/10/1999 101 1/2 101 11/16 104 99 1/2 5,384,100
6/09/1999 105 1/4 107 3/8 108 1/4 102 1/4 5,947,500
6/08/1999 104 5/16 109 15/16 113 11/16 103 1/2 11,415,200
6/07/1999 107 1/4 97 5/8 109 96 5/8 10,388,600
6/04/1999 94 1/4 90 7/16 94 3/4 89 1/4 5,376,600
SFE
DATE CLOSING PRICE OPEN HIGH LOW VOLUME
-------- ------------- -------- -------- -------- -----------
6/14/1999 60 65 1/4 65 5/16 60 854,800
6/11/1999 66 68 11/16 70 65 1/16 500,100
6/10/1999 68 1/2 70 1/4 70 1/4 67 5/8 546,400
6/09/1999 71 69 71 1/4 68 7/8 824,600
I don't mind calling these stocks for a day or two, but the incessant touting and claims were outrageous... where are the touters now? |
