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Technology Stocks : INFOSEEK (GO) -- Ignore unavailable to you. Want to Upgrade?

To: Nick who wrote (2977)	3/12/1998 11:26:00 AM
From: Frederick Langford	Read Replies (1) \| Respond to of 9343

This puppy is far from done. Fred

To: Nick who wrote (2977)	3/12/1998 11:40:00 AM
From: Stephen	Read Replies (2) \| Respond to of 9343

Technicallly it would be better if SEEK continues at this level rather than shoot upwards again. That way a base can be formed, the shorts can establish their positions and these shares can be taken up by new buyers. Once a base has been formed, people who have liquidated positions will get back in and the movement upwards can continue. The sector's bias is still negative ... Lycos has recently had its earnings projections revised downwards because of its acquisition and Xcit was recently downgraded. Historically the group has always moved in tandem with SEEK being the laggard, so I guess we'll see what happens. The 100 day CNWK chart, ... who has often been a forerunner of the internet sector, suggests that it should bounce off its current level to new highs ... but this market is looking tired, despite all the money managers who reportedly are behind the mean and need to make up ground. Those with Intel's and Compaq's in their portfolio are even further behind now ! Also, although the annual rally started almost a month late, we're getting close to the time when a pullback is should be expected, so its time to be thinking about taking some profits I think !!