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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: Ruyi who wrote (9572)2/12/1999 10:30:00 PM
From: NTT  Read Replies (1) of 37507
 
Yes, the Nasdaq 9 day EMA may have crossed the 18, but that doesn't translate to what's happening with BII. Although I agree that BII does in general follow Nasdaq trends, this is not necessarily true. Today I was ready to bail out this morning because I knew there was going to be some serious profit taking today. I ended up pulling my offer because BII was trading strong even when the rest of the market was tanking. Given that the Nasdaq closed something like 83 points down today, BII's close was most remarkable, especially given the volume. I think there was strong buying action because most people are expecting a positive boost on monday from Godin's interview this weekend and nobody wants to be caught with their pants down if there is some major announcement before open on Monday. (Unlikely, but you never know!)

I agree with your assessment that the tech sector probably has not hit its bottom yet. Yesterdays rally was great, but today brought things back to square one. (I'm sure part of this was due to the markets being closed on Monday in the US and people wanting to pull out before then). I do believe a strong rally is imminent very soon. A strong quarterly from DELL will most definitely kickstart the tech sector. Currently there's a couple of analysts knocking DELL which caused some of the uncertainty today. Anyhow...
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