INFOSEEK (GO) Message Board

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Technology Stocks : INFOSEEK (GO)

GO 9.450

-0.1%

Jan 29 3:59 PM EST

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To: terri acey who wrote (6386)	6/5/1998 8:07:00 PM
From: Jeff Jordan	Read Replies (1) of 9343

"Technical Analysis for the Masses Someone on the Yahoo board posted a message indicating what dire straits SEEK was in because it was going below the 50 and 100 day moving averages, and cited the value of some other technical indicators as "proof". I see proof of nothing. That's the whole point of the current market correction to get stocks closer to to their 100/200 day moving averages. Since a majority of quality stocks have had such a great run this year....it's only natural for them to retreat from such high PE ratios. However, some stocks are in different cycles so it's a great market. I agree with this statement: For SEEK, the 61.8% retracement line is at 21. Again, this indicates very good support at 21. only my range is $20 1/2- 22 5/8 and I am buying in the lower range. I am long on SEEK....we will see $40's again this fall. The time to buy stocks is when they are 60+% off their 52wk highs! Jeff

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