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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: robert miller who wrote (3124)	6/22/1999 11:05:00 AM
From: michael r potter	Read Replies (2) \| Respond to of 4467

Short term summary: Robert, Am still long the trading buy from 6-14-99. The oversold has been somewhat relieved and volume has been pretty weak. Am not all that enthused about the chart right here. More or less neutral with the benefit of a doubt given to the bullish case because of the last buy signal. The big hurdle is around $70-$72 where its last rally was held in check and where the 200 day m/a currently resides. Other stocks appear in better shape having rallied more forcefully and broken some key resistance levels. For example, IBMs breakout to a new high after a consolidation that was not to severe in the big recent tech sell-off. Microsoft breaking some resistance around $83, once broken, shot up very quickly, and Yahoo, a strong rally that bottomed at the 200 day m.a. and quickly went up and sliced through the 50 day ma. AOLs decline was stopped at the 200 day m.a. and it is hitting resistance at the 50 day right now. In sum, the rally seems a bit anemic technically but the last signal was a buy, it has rallied from there, so for now, I'm still giving it the benefit of a doubt. Breaking $70 to $72 on volume would be quite positive, but that doesn't look imminent. Apparently a lot of supply in the internet IPO market without much enthusiasm for the offerings. ICGE a few months late. Mike