InfoSpace (INSP): Where GNET went! Message Board

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

INSP 65.70

+0.2%

Feb 6 9:30 AM EST

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To: tahoe_bound who wrote (19037)	5/10/2000 11:48:00 PM
From: Hawkmoon	Read Replies (3) of 28311

God help us if 3,300 nasdaq fails and it goes to Oct. 99 levels. Welcome to Wave 5 of the Nasdaq downtrend. siliconinvestor.com The volume has been so light over the past week due to lack of buying pressure and that will likely continue until the May 16th FOMC meeting, at which time we'll have to put our fingers in the air to see which way investor psychology is blowing. A lot of stocks bottomed out their daily Williams% oversold indicators today. However, one must look at the weekly chart for the intermediate trend on the Nasdaq. siliconinvestor.com Note that the lower arm of the bollinger band is sitting around 2,893? That's our target should the Nasdaq fail to find support at 3,220 or so. It also happens to correlate to the October lows when this rally in the Nasdaq took off just before Y2K (thanks to the Fed adding major liquidity). Believe it or not, we can bounce off that point and still have the uptrend in the Nasdaq remain intact. As for GNET... what can I say. Like many of you, I never thought we would ever see this price again. The daily chart indicates a MAJOR oversold condition which has generally netted a major bounce shortly thereafter. However, there may still be some room to the downside around $31 support. siliconinvestor.com But the weekly is indicating more downside should we fail to put in a bottom and a "hammer" on the candlesticks indicative of a reversal. siliconinvestor.com Imo, I think we'll find support in the low '30s and bounce back hard up to the $45/share range. But a lot of damage has been done to the chart and I think we still haven't seen enough blood on the streets to suggest that all the weak hands and margined shareholders are out. Good luck all!!! Regards, Ron

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