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Technology Stocks : America On-Line (AOL)
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To: Steeny who wrote (20088)6/4/1999 9:29:00 AM
From: Guardian  Read Replies (2) of 41369
 
steeny: What's your take on this ta from the internet stock report this morning:

More on the minds of many is weather the correction will continue growing next week? I have no evidence to refute the potential Head and Shoulders Top in the NASDAQ Composite I discussed previously. The Left Shoulder was formed at 2598.81 on 04/21/99, the head is 2535.58 on 05/03/99 and the Right Shoulder is 2606.54 from 05/12/99. In technical analysis, if the market drops decisively below the neckline (2345.61 from 04/19/99), it will continue to fall below the neckline the distance between the Head and the Neck or 189.97. This will provide a MINIMUM target of NASDAQ 2155.64, a 17.6% correction. This is not a prediction of things to come, but certainly something to watch out for.

Investors should keep in mind that it is almost impossible to time the
Internet stocks and the potential rewards at this level may be much higher than the risks. I now expect the bottom within 6 weeks (the middle of July).

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