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Technology Stocks : E Loan Inc -EELN -- Ignore unavailable to you. Want to Upgrade?

To: Robert Rose who wrote (325)	7/9/1999 11:59:00 PM
From: Mr. Aloha	Read Replies (2) \| Respond to of 817

Robert -- It is very common for stocks that have run up to give back about 50% of their gains (hence the term "50% retracement"). EELN opened at 20 and hit a high of 74, so a 50% retracement would bring us to around 47. Where did the stock close the day? If you look at a 60-minute chart's stochastics (not enough data yet for daily chart), this stock is oversold and poised for a rebound. Add to the technical analysis the fact that Steve Harmon, the noted internet analyst, added EELN to his 10-stock HotWatch list for July, and this looks like a great entry point. Time will tell if it really is. Here's what Steve had to stay about EELN (Steve also added HSAC and look what that's done already this month): "I am adding one new stock from the IPO group to HotWatch this month: 1) E LOAN (NASDAQ:EELN). Huge market potential. Mortgages. Loans. It offers over 50,000 products from 70 lenders in its database and also recommends a loan based on a customer's financial profile. Forrester Research projects the online mortgage originations will grow from $18.7 billion in 1999 to over $91.2 billion in 2003, or from being just 1.5% of mortgage originations to 9.6% by 2003. As a loan supersite I think E Loan has a chance at being the "E*TRADE" of mortgages and loans. Granted, E Loan is very high speculation and rivals are fierce. It's still early in this space. But overall, mortgages and loans are a more compelling business than many other Web efforts. E Loan discounts the charge for loans to well under other mortgage brokers: Typical loan fees are .25% to 1.5% of the loan amount. By contrast, E-LOAN's origination fee is 0.625% of the loan amount."