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Technology Stocks : On2.com (ONT-AMEX) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Cash who wrote (268)	1/15/2000 11:06:00 AM
From: Zeev Hed	Respond to of 553

Jim, unfortunately, I never have access to "real information" about any company, that is why I make my buy sell decisions often based on what the market participants are doing. Og course, in a thinly traded issue like that one, it does cause some "whiplashes". While on a fundamental basis, I am quite bullish long term on ONT, short term, the technical behavior indicates to me that "people in the know" are not ready to jump on this horse, yet. Failure of buying to materialize, once the stock retreated to about $22.5 late Friday, indicates to me that some things are not going according to plan. These could be technical glitches in the system, fears that the AOL/TW deal may delay ONT's ability to access TW's library, the possibility that large chunks of stock would come on the market as lockout provision expire and who knows what else. When I sold, ONT was on its way to open and close at the same price after a major excursion up (it actually closed lower than the opening price, even more bearish), or what the candle stick crowd calls a gravestone doji, this formation so close to a "hammer" (when the price is hammered down consecutively in few days, as ONT was in the last two weeks) is extremely negative and often indicates (not always) that the hammering process is not complete. A close under $17.25 will be extremely negative, IMHO and could indicate a return to single digit prices, to be on the safe side, I bailed out. My long term opinion on ONT has not changed, but short term, particularly in view of what I believe will be a turn in the market tide soon some time next week, I think we have some serious problems with ONT's price here. Zeev