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Technology Stocks : Safeguard Scientifics SFE
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To: michael r potter who wrote (2608)4/15/1999 2:37:00 AM
From: wellab1  Read Replies (1) of 4467
 
Michael totally agree with your assessment To many stops to high

I watched it between 110-96.The speed was "unhuman"Before one could
say "sell" or "buy" it was another $2 down.It was mechanical -trigering automaticly those stops.This was definitely excessive and those high stops just magnified otherwise moderately going slide ($120-110).I did not thing this much it will go when I wrote my last post .
Well,nothing goes up in the straight line.Such a pullback is healthy.
It releases build -up pressure and gives the chart needed "bull flag"
pattern which is a confirmation of continuation of trend.
After all we have got an indication of $ 180 from Elliot Wave ..ect .This analysis proved to be right in last few instances.
Message 8896911

and new target price of $ 125
Message 8867506

The sympathy play- aspect with CMGI also plays role here.
CMGI went down $47 from day's high and Internets nose -dived.
This shows SFE is already in this category, like it or not.Which in long term is as bullish as it gets.
Welcome to brave new world where ferocious advances and declines are
commonday.

My yesterday's worry about the market subsided somehow.New info:
----IRA effect (15 bln net flow to funds and counting) should keep
market going till 1/2 of May
---Abby Cohen long term bullish outlook comforts me too

wellab
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