Egghead Computer (EGGS) Message Board

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Technology Stocks : Egghead Computer (EGGS)

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To: Raven McCloud who wrote (7170)	3/16/1999 9:17:00 PM
From: Kip518	Read Replies (1) of 8307

Raven, I had to go out of town today and missed market all day. Still holding long EGGS but I don't like the look of today's action on the chart. The high today touched the top of the down channel (draw a line from high of 11/27 [ignoring spike on 30] along tops of 1/12 & 2/5) and then reversed to low of day. Unless EGGS breaks through the upper channel (i.e. over 17) soon we could be headed toward the lower channel which is currently about 8 1/4. On the other hand, all the other EGGS technicals look pretty good. Some decent FA news out (e.g. Allen's buy-in to GNET & tie to EGGS -- see MF & HQ's rec.). My guess is that near term EGGS's fate is tied to the larger 10,000 effort. If the market becomes exhausted before EGGS breaks out, it will tumble with everything else. Could be clear tomorrow. Kip

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