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Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?


To: J Bertrand who wrote (446)3/16/1998 11:49:00 PM
From: Oeconomicus  Read Replies (2) | Respond to of 8307
 
To all, a late night, eerie story that may give you nightmares (if you are long just about anything), but should be read nonetheless:

stocksite.com

And to you bulls, don't stop when you see the name on the site. You will want to read the Graham & Dodd quotes.

Sleep tight,
Bob

PS: Jeff, you should find this particularly eerie considering our conversation of this morning.



To: J Bertrand who wrote (446)3/17/1998 9:41:00 AM
From: NYBellBoy  Read Replies (1) | Respond to of 8307
 
J Bertrand - I'm calm for a New Yorker.

:)

BellBoy



To: J Bertrand who wrote (446)3/17/1998 12:50:00 PM
From: Proton  Respond to of 8307
 
Re: EGGS Technicals

Look. I am not a chart expert, but I do see an upward trend. Draw it yourself. It certainly has been going on since January.

I do not possess the religious fervor of either the bulls or bears on this thread, but I'd like to make a couple of chart observations.

Jeff, you're right that an uptrend has been in place since the spike low in late January. The second point for the trend line is at the early March low just under nine. Today's action brings EGGS to within a fraction of the trend line. Violation of the trend line would be most ominous.

Good news: Volume has been diminishing into the decline.

Bad news: Price has already breached a key support around 11. That is the peak from early October (which, BTW, was the top of the head-and-shoulders formation that presaged the decline below six).

Mixed news: EGGS has come off of the top Bollinger Band. It has not, however, breached the 20-day moving average. The 20-day is almost exactly on track with the trend line I discussed. Any subsequent decline in EGGS may take the stock to the lower B-Band (currently around $8).

The technicals are as much a battleground as this thread. :-)