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

To: joshi who wrote (3103)	3/16/1998 5:05:00 PM
From: Stephen	Respond to of 9343

The ISDEX was up 2.96 or 2.03% today. There were 32 advances, 17 declines and 1 unchanged. The bias is stabilizing, but still slightly downwards. If you hold the stock, todays price action should not worry you too much, frustrating though it may be in such a strong market !. One thing to remember, there are over 27 million shares outstanding (sometime to become upto 30 million +). As at January, the market makers did not hold a strong hand in the stock, the major volumes being transacted by Merrill Lynch, Alex Brown, Mayer Schweitzer, Knight Securities and Herzog. However, the volume of block trades were not that high. Things may have changed since then, and anyone with level II who watches this stock would have a better idea of any accumulation. This means that there is a lot held by individuals, who are more easily manipulated out of the stock. I currently do not have a position in SEEK, but like other posters to the thread, would very much like to get in at a lower price. It appears to be a 'hold', but not a 'buy' IMHO. Given the general market conditions and the sector, and the fast run-up, the stock may become rather contrarian, trading up on less stellar days as funds rotate from one internet stock to another. I personally believe that the major danger to the stock is a market correction, but whilst I think it should occur, as long as the market is so liquid and the mm's are chasing the mean, I'm not sure what will trigger it off. One thing for everyone to watch for later in the year is that once the fund managers have made a reasonable figure, they will sell the market out, which will both protect their profits and make their performance look better. All imho. Good luck to all!