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Technology Stocks : INFOSEEK (GO)

GO 10.27

+0.1%

Dec 26 9:30 AM EST

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To: Craig Rogers who wrote (3464)	4/7/1998 7:48:00 PM
From: Rudy	Read Replies (1) of 9343

Craig, I am not a pro on T/A but I'll give you my 2 cents on what happened today. Most Internet stocks are showing patterns of retesting their latest resistance levels (now support). This is a good gut check time in the wake of Yahoo earnings. IMO it is a good time to add positions or enter in the sector. As to SEEK, 5 weeks ago it broke out of a symmetrical triangle (I like to call it a coil) and broke away from its trendline. This up trendline had started in January 98. Now with the latest action SEEK is testing this trendline which proved quite strong last week of March when it was tested several days in a row. After any break a pullback is natural and expected. SEEK's volume shrank during its pullback which is a good sign. It nearly touched the trendline at 19 and bounced back intraday. Now, all this is natural and healthy. IMHO, SEEK will be OK if Yahoo acts well. Otherwise, we have strong support around 17-5/8. Hope it never comes to that and trend resumes with YHOO's good news. We shall see soon. Take care and good luck.

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