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Technology Stocks : SkyMall (SKYM)
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To: Patric who wrote (578)12/29/1998 11:36:00 AM
From: Street Walker  Read Replies (3) of 987
 
2 million FLOAT == has beeen recycled === support level has risin

"each time the float is recycled the support level rises. that is why you see ebay rising from $26 to $300 in stair step fashion. and Ubid go up from $40 to $190 in a stair step fashion. SKYM is still on the first stair. as the float is recycled there will be shareholders who will simply not sell. which means the effective float decreases while demand increases.

Just my opinion. With only 2.0M float, High volume = gigantic price surge."

When alliance news is released, we may see a $70 point gain.

Holding a short overnight is too risky under these circustances.
Risk/Reward favors the Longs.

Buy on retracements and hold.

Regards,
S.W.
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