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

To: Kip518 who wrote (4245)	12/1/1998 8:40:00 AM
From: Anaxagoras	Respond to of 8307

Thanks for posting that, Kip. <<...even with today's decline, Internet retailers are still much higher priced than they were two weeks ago. >> This is one of the things people fail to realize. In EGGS case, even after yesterday, it's still more than tripled in a few weeks, and it's still well over 100% above it's 50 MDA. Nothing has particularly changed in the fundamentals to warrant this (a "new" web site notwithstanding). Pull up a chart, whatever freebie you like. Here's a free one: bigcharts.com Play with the indicators, turn it any way you want. Major damage was done, IMO. I reiterate what I said yesterday, that a gap up open followed by a close lower than the previous close is a classic "party over" sign. The chart's awesome ugly, and since this doesn't trade on fundies, one has little else to look at other than volume and price which are painted on a chart, a reflection of psychology alone. You can throw in some fancy indicators as well like stochastics, and they still say overbought (depends on the time period, naturally), but I don't use that stuff too much. Anyway, there's going to be a lack of confidence in this thing now, and I'll be really surprised if we even get close to $30 today, and I'm feeling good about my short position. I don't read the stuff on the YHOO threads because in general it's just awful cheer leading. Be wary of it, folks. All IMO, Anaxagoras (who is often mistaken)

To: Kip518 who wrote (4245)	12/1/1998 8:43:00 AM
From: Craig Rogers	Read Replies (1) \| Respond to of 8307

I'm out of EGGS for now. It's no fun any more! Remember the good old days when you turned your computer on and saw the E-tail stocks gapping up 5/10 points? I look now and low and behold they are bidding down. No fun, if you are long. It's a tuff game we play. You just have to average things out. If you can make a few more good moves than bad and be happy knowing that you CAN'T win them all you will come out ok. I've been doing this for about 9 years and still haven't got ir right. Today just may be a good buying opportunity. Craig