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Technology Stocks : InfoSpace (INSP): Where GNET went!
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To: Chetman who wrote (4564)4/23/1999 12:19:00 AM
From: HeatherN  Read Replies (1) of 28311
 
I would normally agree with you entirely regarding the reversal on big volume, however with such a large run up in price, very little analyst coverage and a CNBC interview there were reasons to expect that pure technical analysis may not adequately reflect GNET's prospects for further appreciation. Although I am not among those who shared in profit taking, there were no doubt many who did. This can be contrasted with the CNET situation where the stock price stayed fairly steady in the last three weeks of March, had a runup early April with the other 'nets BUT had a much more severe correction during Monday and Tuesday's correction. There was more room for price appreciation in CNET's case as well as it's more extensive analyst coverage.
I am happy to see price acceleration but also accept that profit taking and consolidation are part of the package deal. If the price stays like this tomorrow, I will also be adding shares (just me and my friend WST <gggggggg>)

Heather
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