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Technology Stocks : VerticalNet, Inc. [VERT]
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To: neverenough who wrote (801)2/15/2000 9:57:00 PM
From: craig crawford  Read Replies (4) of 1094
 
Anything is possible. I hear people say the 180's are possible. Now you say 170's. The 50 DMA is around the mid 170's, but VERT hasn't touched it's 50 DMA since Sep '99. I don't see why it should now. Who is going to say 160's? Someone acted shocked that I loaded up on some CMRC in the low 150's. They said something about waiting for 142. Well buying at 152 instead of 142 just made you 16 points in a few days. You might not have the courage to get back in if it hits 172, 182, 192, etc. and never reaches 142.

The next logical place for VERT to test is the high of 182 or so that was taken out. I wouldn't (and didn't) wait. I bought some in the low 220's, and then bought even more than my first bunch slightly under 200 today.

My next buy will be around the low 180's, but VERT might just not make it there. I think it is oversold and due for a rally by the end of the week. VERT has been selling off on really low volume for a while and the last 2 days it's traded down on above avg volume. That means some weak hands finally can't take the pain and are being flushed out. VERT has a tendency to correct for about 3 weeks, and we will be there at the end of the week.

IMO, I wouldn't wait for 170's if you don't have any. I'm buying on a 20 point down scale. VERT is still going to see 400 short-term and I don't want to miss the ride up trying to save 20 points.
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