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Technology Stocks : Internet Capital Group Inc. (ICGE)
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To: Susan G who wrote (699)10/24/1999 10:27:00 PM
From: BEEF JERKEY  Read Replies (3) of 4187
 
Some things are important to consider about ICGE here and now.

The three month lock up period is soon to expire. With 120
million shares outstanding I would look for insiders to be dumping shares at these prices.

The DOW NDX/NAZ and DOT/IIX havn't proven yet that this recent uptrend is anything more than a counter trend in a longer term down trend. Brian Fabris (on weekend squawk) says watch for 3rd quarter revision of GDP (on Thursday) for big jump and next PPI number coming in over 4%. Rate increase in November certainty. Stocks have no where to go but down until end of 1st quarter next year (his opinion). First Intel then Dell, IBM and now CISCO is rumored not to meet.

What worries me more is that they opened that IPO on Friday at 280 or something (of course it sold off all day). This has got to signal a top in the market. I saw similar stuff the first week of April and the internets sold off for the next six weeks. Some to 30% of their highs.

I still think that if the Dow closes below 10,000 this stock could have a ways to fall.

one more thing If you daytrade this stock be careful the mm's are particularly tricky. I've seen them drop this stock $8 in 10 minutes.

Out again (and waiting) @ $108.75
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