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Technology Stocks : OnSale Inc.
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To: Scott Shumaker who wrote (1172)6/30/1998 11:42:00 AM
From: Rob S.  Read Replies (1) of 4903
 
It's obvious that ONSL has met stiff resistance as it approaches it's highs of around 30-32. I made some money riding it up to 32 and then selling 30 calls against the position. When it dropped bellow 28, I went naked on the calls. It looked like it was topping out but renewed enthusiasm for the inet stocks has propped it back up. I think we will see a sell-off in the internet stocks, just when is hard to guess - maybe after the forth of July weekend. I think OnSale will see 20 before it sees 35.
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