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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 97.89+1.5%3:59 PM EST
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To: The O who wrote (10903)8/5/1999 9:15:00 PM
From: Hawkmoon  Read Replies (1) of 28311
 
Is there such a thing as a double bottom? If so have we just hit one?

O,

That's what I was hoping for. We have so far avoided retracing old post-split lows on the daily chart, so technically speaking the upward is still intact (though it doesn't seem that way...:0) And by uptrend, I mean not breaking major support at $45.

What was more impressive is that we closed at the highs of the day without a end of day retracement. That's a VERY strong sign of a trend reversal indicative of the worst being over.

But what I consider the most significant indicator is that GNET, a $50 +/- stock was up 8 points while the big heavyweight internets where either down (AOL) or only up by a fraction of the percentage gain.

That tells that my hunch may be correct and that money coming out of AOL, AMZN, and the other money-losing internutz are looking for a home in "safer" internet plays that are making money. Those who lost money in AOL basically have a tax loss to deal with and are unable to repurchase that stock for 31 days. So why not park their money in the lesser followed by very promising Internutz.

I think GNET may be due for an analyst upgrade soon, or iniation of coverage.. (knock on wood).

Regards,

Ron
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