To: michael r potter who wrote (3426 ) 9/12/1999 12:26:00 AM From: michael r potter Read Replies (2) | Respond to
SFE $72 1/2 short term technical update. A good week for SFE, adding $4 5/8. It has been one month exactly since the buy signal, and during that time, SFE has had very few pullbacks, none of consequence. It is just uptrending along an even slope. SFE came close to a stochastic crossover last week, but escaped by closing higher most days. This move is getting a bit long in tooth, without a correction, and as a guess only, one should start before the end of the week, from what level? Just have to see how it acts the first few days. ICGE has had a decent pull-back from its highs, and a possible maximum to watch for looks like $60-$62. Just a guess again, but with the low volume on the pull-back, double test of the $66 area, I don't think it will make it that low [$60-$62] before it rallies. It just "feels" to me like it is about ready to rally, nothing I can point to, as always, take a look and decide for yourself. This may not apply, but it seems like there are some similarities to ICGE and Red Hat RHAT. Both came out about the same time, both were very hot new issues involved in areas that are new and exciting. Red Hat rested for awhile then just exploded to well over $100 in just a few days, lets see if ICGE follows suit. [The fundamentalist in me cringes at the thought of a $120 ICGE which would be a $14+B. mkt cap, but we may get a chance to cringe all the way to the bank]. ICGEs main child Vertical Net VERT took off on Fri. coming off an oversold and added about 12% on very big volume. It almost certainly will have follow through, and very well could help put the spotlight back on ICGE. Thanks, Mike
