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Technology Stocks : MSGI Marketing Services Group Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Smaven who wrote (1316)	6/11/1999 6:46:00 PM
From: James C. Mc Gowan	Read Replies (1) \| Respond to of 3418

Smaven: just getting back to you; telephone was setting up for a DSL line here and cut me off-line a few hours RE: short interest; yes I had checked this last month and noted that the level was roughly equal to one days trading volume; now, in May, it has dropped off to 1/2 of Aprils level This would be positive for the stock to hold at these levels, as it appears that the shorters have made their score and moved on, now that MSGI has retraced to support in the low 20's. Wonder what it is now, that we've gone back to support? Anyway, another positive for the prospect that we may see another run up, as you have noted in the recent past, from 20 to 60, then back to 20 up to 40+. I see the buy in at this level as minimal downside risk(with a baleout below 20) compared to upside potential. Internets still in correction, however, and all the leaders(CMGI, EBAY, AOL, AMZN) are under pressure, are below their 50MA's ,moving toward 200MA's fast So caution is the order of the day. I'm watching the weakness of the big 5 Nasdaq stocks also,as they are flirting with thier 50MA's as well. Maybe the bond/interest rate scare triggers a final selldown early next week, before we go up again: I'll be waiting and watching for buying opportunities; in cash, and investment positions hedged now. Regards, James