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Pastimes : Techride -- Ignore unavailable to you. Want to Upgrade?

To: Joana Tides who wrote (4576)	9/23/1999 8:06:00 PM
From: faqsnlojiks	Respond to of 7442

Hi Joanie! Yep, the calm before the storm, and if it wasn't for the tank at the end of the day, we could've seen a rocket. As it was, about three times (or more) the recent volume, and then it closes the day unchanged. If I didn't know better (and I probably dont), I would say there is a little MM action afoot. But maybe I should take some Prozak and fuggedaboudit! Yep, Jed's words about "same thing, different day" are right on it. Just sit back and giggle at the happenings, and the reactions of the sheepeople. As far as P&F with GNET, there are two ways to look at it: 1. If you're running a 1-box chart, today was a very bad indicator, since GNET hit 65. That was what we call a "triple-bottom break", which usually portends bad things to come. 2. On a 2-box chart, GNET is sitting right in the middle of it's current column of X's...not giving a buy or sell signal. Support is around 58, resistance at 70...a break of either of these marks (58 or 70) would be significant...but it's sitting there between them...kind of like a hot-rod on idle. I, personally, use a 2-box chart with GNET. It's less likely to be influenced by highly volatile stocks (which I think GNET has proven to be) and is more reliable overall. Days like today don't have much an effect on the chart. I guess you can say it's "more stable". Just about all Internet stocks are watched with 2-box charts...just for those reasons (volotility, especially). Bottom line is I think it's fine, and I would think it's fine all the way down to 58. Whether it goes there or runs to 99 first is anybodys guess, but like I said, feels like a dragster on idle. 909's, -Joe