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Technology Stocks : Egghead Computer (EGGS)
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To: Philipp who wrote (2046)7/24/1998 7:00:00 AM
From: Philipp  Read Replies (1) of 8307
 
I changed my mind. I am going to make a prediction for the
day:

EGGS: Up, testing recent resistance levels (despite yesterday's
SIGNIFICANT failure).

Reasons:

1. EGGS is trading just above a strong support level.

2. I don't see any EGGS-specific downward pressure (at least
till earnings).

3. The general market should rebound a bit today.

Therefore, EGGS is a relative bargain.

I don't expect it to break out of the recent trading range
($ 21.5 - 24), but would not completely exclude it either (depends
on external factors, real speculators' intentions, etc.).

Good trading to all.

Philipp

P.S.: My conviction level is steadily falling. I may well close
out my long position today.

P.P.S.: I have to say that I admire Kip's strong convictions to
hold a short overnight at this price level. If he were right, I
would certainly be out of EGGS.
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