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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 130.34+11.2%3:59 PM EST
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To: robert duke who wrote (6475)5/31/1999 12:57:00 PM
From: Greg S.  Read Replies (1) of 28311
 
I just want to tell everyone who doesn't know - just because a security (or a market) has a strong up day after several down days doesn't mean it is "coming back" or has "hit bottom." In fact, all it means is that there are bargain hunters out there who THINK they are getting a steal when in fact they're screwing themselves because the price is about to drop even more.

I'm not a TA person, yet. But I would say in the future, look for stronger upward signals and greater buy-side momentum before you jump in. If you're going to play the momentum, let others take the risk for you - jump in a day later and you may miss a couple of points but you'll have far less risk.

That being said, the chart DOES look like it's calling for a real turnaround - the stock was very hesitant on Thursday but Friday was a fairly steady ascent. I think that's a good signal. And I would check the charts of like internuts to see if this is more of an industry phenomenon (which would be good, because I expect GNET to outperform most internets) I agree that if the market takes another sour turn this chart will quickly turn bad. But I say that's pretty tough if not impossible to predict, so go with what you know - GNET long!

-G
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