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

To: Kip518 who wrote (2055)	7/23/1998 9:06:00 PM
From: HairBall	Read Replies (3) \| Respond to of 8307

Kip: Well guess this thread is winding down. There are almost more postings on other stocks than EGGS. I see AMZN post as relevant, after all, everyone believes it has influence over EGGS. And, maybe it does, a little. MM seem to be keeping this stock in a range above 20. It is not the investors, I do not believe. MM can create volume with pops up or down. Investors will follow. Pops up cause short covering and long believers to buy trying to catch the train and some long day traders profit taking. Pops down bring in the dip buyers, long day trading covering and shorter sellers trying to catch the train in the other direction. Either way MM can make money and since they have "a birds eye view" of what intra day trading direction is going to be, they can trade their account against their customers, YOU! My investment indicators have been signaling a move down for the overall market. I've been in cash for a few days. This market is very heavy. The following is based on my own short/medium term investment (not intra day) TA indicators: (Oscillators based on daily closing prices, moving averages, volume interpretations and charting!) Dow Utilities: Gave a short term sell signal 7/20. Today it closed below its 50 day SMA. Dow Transports: Its momentum turned down, 7/15. Today it closed below its 50 day SMA and knocked on the door intra day of the 200 day SMA. Dow Composite: On 7/14 it banged its head on the April high of 4/17, putting in a nasty looking double top. It also closed below its 50 day SMA. (This indicator is often ignored.) Dow Industrials: Momentum turned down on 7/21 and today it closed below its 50 day SMA. Now having said all the above: I could not see any perceptible last minute moves by the MM's. EGGS closed down after four up closings. Since 7/21, MM have kept the stock, in a trading range, roughly between 21 to 24. Looking at the (60min tick), an intra day lows bullish trend line from 7/16, was taken out today! Internuts, holding up rather well, since they are in outer space. This part of the speculative bubble will eventually fall and fall hard it will. Big money is in these stocks and praying on the naivete of the less knowledgeable investors. So much manic investing in internut stocks, has allowed Big Money to raise prices to stratospheric levels. Greed eventually sucked in the savvy investors, as well. EGGS Friday Open Best GUESS: Watch the early bid/ask prior to the bell. If bids are higher than ask, MM most likely will follow their established pattern, gaping slightly up and or moving the stock up at the bell. After a moderate move up, they will drop it back down mid am and slide into a sideways trading range until the close. With a move up or down at the closing bell as day traders rush to go flat. Day Traders need to be swift and nimble. I get the since, this stock is not going anywhere, until the earnings report. Direction dependent on the report! Be careful, MM's are scoundrels, preying on the individual investor. They often do what you least expect! Who knows, maybe they are reading this thread! BWDIK Regards, LG PS: The overall market may decide the fate of EGGS first! Keep an eye out!