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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (23443)	8/4/1999 1:41:00 PM
From: larry	Read Replies (2) \| Respond to of 27307

We are only entering the early phase of a market slowdown and yet the banner leadership nut issues (AOL, EBAY etc) are all breaking major supports. AOL is entering a dense zone but a penetration of 80 is very doable. EBAY has been a straight flush to the toilet and on the chart it looks like low 70s is a support level...yet I think it will go lower. YHOO! and AMZN both broke the 200DMA and are not able to show any dead cat bounce...I think coming mid Sept., you will be surprised to see how low these issues go. When these nut companies are showing great growth and only good news hit the market, and yet issues are in a funk (sure the rate hike talk does not help), there is only one explanation....issues are way overvalued. The great run in nut stock prices has been largely the great feat of daytraders. When daytraders are no longer able to hold the bag (they are losing $$$ on nuts everyday!), these issues have more room to fall. larry