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Technology Stocks : INFOSEEK (GO)
GO 10.19-3.5%Dec 16 3:59 PM EST
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To: Chi-X who wrote (9070)4/20/1999 12:38:00 AM
From: Apakhabar  Read Replies (1) of 9343
 
Chi-X,

Technically, SEEK looks bad because it broke and closed decisively under its 200 DMA. Although some indicators (RSI, stochastics) make the stock look oversold, we all must factor in the general loftiness of the sector, so these indicators may not be followed.

Last week, the day after a 10 point drop SEEK opened up and traded fairly strongly. But tomorrow could be different because of the severity of today's drop and the fact that there was no short-covering bounce at the end of the day.

The important thing to remember/consider is that buying Internet stocks in 1999 is gambling, and that in this sector money management is more important than research. You've got to sell regularly.

My prediction for tomorrow? The stock trades in a 10-point range!
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