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Technology Stocks : OnSale Inc.
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To: zurdo who wrote (3951)4/1/1999 4:25:00 PM
From: Gary Wisdom  Read Replies (3) of 4903
 
zurdo, today was totally ugly as you know. Onsale hit the 200 dma and did not bounce that hard off it. It would have been bullish had we been able to close at $34 or better, but there's so many idiots in this stock trying to scalp 1/8s that there is a ton of overhead resistance. Think about it. There's no one that's long in this stock that has a profit for the past 200 days. it will take a buyout to move this, nothing less will do.

With that said, it's not a bad buy down here but if it penetrates the 200 dma, watch out.
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