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Technology Stocks : OnSale Inc.

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To: Colin Cody who wrote (3272)	1/12/1999 11:46:00 PM
From: Colin Cody	Read Replies (2) of 4903

My concerns tonight... Last week we took off from a good base at the $40 level. The stock shot higher, as I suspected it would, for two days. This (too) short run higher was a disappointment for me. We then saw this followed by two days of just trading in the $55+/- area. VOLUME was not a factor, lackluster is a word that comes to mind. Other than a strange 3 point rally on the biggest volume of the day during the last 25 minutes Tuesday, this stock was pretty quiet. We are near the high end of a trading range here, and with no volume (even including the late surge on Tuesday) to support us, I believe that we are at risk of an immediate sell off. I say "risk" because nothing is so conclusive for me right here to be certain. BUT I suspect the High Tech/internet Market in general tomorrow will sell off and ONSL then will likely have no support to keep it up at these levels. I am currently "flat" ONSL and standing on the sidelines for some further indication where we are going to see ONSL move to next. Colin

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