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Technology Stocks : Energy Conversion Devices
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To: Thomas J. Smith who wrote (3119)2/2/1999 7:21:00 PM
From: Thomas J. Smith  Read Replies (2) of 8393
 
Message 3119........ As I posted, we showed some weakness on Friday with the intraday reversal, followed by another intraday reversal on Monday... I would not expect this pull back to be done at this point in time. With the 200 day moving average still heading south and sitting in the low 8's, my prediction to go into the 9's may be a little light. Still to early to buy more and may be a little late to sell and get back in. It would appear that alot of these high flying internet stocks are in the process of topping, showing failure to take out their previous highs. No telling what they will do to the overall market if they start to unwind. Some of them have gone from less than 10 bucks to the 3-4 hundred dollar range, with no earnings expected in most of them. The ones with earnings have PE's of 1300+....I think there is 2 with earnings..
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