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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Solipsist who wrote (16037)	5/4/1998 2:14:00 PM
From: Vir Cotto	Respond to of 79388

As near as I can tell, these internet stocks are soaring solely on the basis of emotion, greed, and wide-eyed hope. Boring stuff like profits and balance sheets be damned, they're the same old crap salesmen, but it's on the internet!! You know, utopia!! Look at what happened the last time CMGI tried to break 100: it made about 102/103 then had a big correction. My theory is that those Psychological barriers that are present on many stocks are bigger on emotion stocks. It looks like CMGI is at 102 as I write: if it falls back below 100 today I'll short. But I will have to use extreme caution as it could easily rocket up 12 points in 12 minutes. Look at KTEL blow up again this morning. What did the analyst say to set this off: he re-iterated his order to you investors to BUY this stock until it hits 100. (he thinks its magic, too) -John.