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Technology Stocks : OnSale Inc.
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To: TokyoMex who wrote (3139)1/5/1999 1:30:00 AM
From: Colin Cody  Read Replies (2) of 4903
 
$2.7M flowed OUT of the stock today alone. We need to see one, preferably two days ABOVE the $39.75~ support line to convince me that she's not going to tank.

ONLY then should we buy the stock. Right here the RISK for a drop to $32 to $26 is too great, and then you'd be sitting on dead money waiting & waiting.

Optionally, one could buy here with a STOP at $38.75 or $39.00
That's probably the best risk/reward play, but NASDAQ doesn't have automatic Stop Losses, so you need to sit by the computer. This stock could drop 5 points in 5 minutes. Go to the "john" and when you come back you might be out enough that you coulda gold-plated the commode!
Colin
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