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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: Clint E. who wrote (21351)	6/4/1999 11:03:00 AM
From: tech fool	Read Replies (2) of 67928

I'm thinking final capitulation of 1st tier nets (CMGI, AOL, YHOO, EBAY) is on the horizon. The 2nd and 3rd tier have been hammered badly and the bullish percent chart for the internet index is 24%. When it reverses up from down here it will signal a strong buy. Some of the 2nd tier nets have based and are making higher lows on rising RSI (RNWK, VRSN). Still cautious here as DOT and IIX are resting on the precipice -- these index levels are developing a greater importance each day.

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