I've looked at the TA of my list of internet retailers and service companies: VERY NICE short list!!!
Amazon.com is among the best looking shorts of the group but AOL. ATHM, BVSN, CNWK, ELNK, FVHI, LCOS, MSPG*, NSCP, NSOL, OMKT, OZEMY, PSIX, RMII*, SEEK, SPYG, and XCIT all look poised for collapse. Amazon, Mindspring and Rockey Mountain Internet look particularly good for a move down.
It is better to be swimming downstream than to try to fight the trend in the group. I think we will see a major downturn in the inet stocks within the next couple of weeks - probably sooner than later. |
