InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 83.42

-0.1%

3:59 PM EST

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To: brb who wrote (10334)	7/26/1999 6:07:00 PM
From: RTev	Read Replies (3) of 28311

From iqc.com Double Top: A reversal pattern whereby a top is formed on high volume, followed by a correction of at least fifteen percent, subsequently followed by a second top (within three percent of the first) on lower volume. Tops should be at least a month apart, and the reversal is confirmed when the second correction crosses the valley of the first correction. The current double-top reversal on GNET would not be confirmed (i.e. it would not be certifiable as a double-top formation) until the the price drops below about 56 (or maybe even 51) which is the upper point of the valley of the first correction. TA may be "hocus pocus", but even magic can have a powerful effect on those who believe in it. The fact is that GNET's intra-day action has been responding well to TA. Friday's jumps at around 69 and today's between 69 and 62 showed classic TA actions. If we have a short rally in the nets tomorrow, you'll see GNET once again struggle at the 68-69 level. If the net sector continues to drop we could expect to see GNET drop quickly but then rebound from the 56 level. If you're concerned mainly about where the stock will be a year or two from now, then none of this stuff makes any difference. But it can be a useful map if you're on a shorter schedule. Look at it this way: If you're driving from San Francisco to Boston and have a month to get there, you don't really need a map. Wander around and look at things. You can wander southward for awhile and maybe even circle around back toward the west. As long as your general direction is eastward and northward, you'll get there in plenty of time. If, on the other hand, you plan to drive there in three days, you'd better check a map before you go and have one handy along the way because you'll only make that schedule if you start out on the right road and make all the right choices along the way ("80 at Cheyenne, or north to 90?").

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