IMO GNET stands poised to reach or breach new high this week.
A somewhat general overview of this coming week seems to be summing up something like this:
Earnings for the following companies will likely be better than analysts projections and because all else is stable and expired options are behind us, I think we are poised for a run up in Tech/Net stock share values.
With all of GNET's & Vulcan related purchases and acquisitions recently, and still managing to report profits, I believe they are now starting to slide in to the limelight of the Street, not to mention the Russel and the steady gain within the Media Matrix. We are seeing more institutional buying lately, though still at lower volumes. Next week may bring out the 'wait & see'ers'.
At some point soon, whether they risk looking foolish or not, Go2Net should see another analyst covering them.
Another thing that may help give GNET that extra boost will come on Thursday morning at around 11:00am I think, when Allen Greenspan makes a preliminary address to the house regarding the economy.
I anticipate he will simply re-confirm that inflation is in check (using last weeks CPI as one example) and hold his neutral bias.
If this is true we could see more institutional buying on
top of the positive earnings reports within an already healthy economic climate.
Hence the good possibility of a bull market week that may continue into August.
I still feel that there is an underling unease pervading the Market regarding Y2K. That, I believe, will dampen any real big run-ups, but not stop this short term climb.
Traders will still have to watch closely next week. There may be more than one peak with sell-offs because of the scattered reports and timing of news releases. But what else is new! <g>
Along with other sector reports, technology stocks have some major earnings reports {MSFT, IBM, AOL and GNET- (after hours Wend.)} and could provide a very clear snapshot of the direction we may go for next week and perhaps into August.
On the other hand, right when things are looking rosy in one perspective, they often get sideswiped by another it seems.
But geez, who ever really knows!
What is your take on this?
Puna-#34 & Long |
