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

To: steve poon who wrote (4273)	12/2/1998 6:34:00 AM
From: Arizona997	Respond to of 8307

I found this excellent EGGS analysis in amongst the usual ton of trash and spam over on the EGGS' Yahoo message board: The charts indicate that today's action for EGGS is nothing but a healthy consolidation. 1. EGGS gapped up on Friday and this gap is at around 22. Very few stocks can go up without coming back to fill up the gaps. EGGS shot up almost 50% on Friday. It's gonna take some time to consolidate. 2. It is not fair to compare EGGS with YHOO, AMZN, EBAY etc which are "veteran" internet stocks. Compare EGGS with BAMM which is doing its own consolidation today and down 5 at close. You will see that EGGS is actually doing pretty well today. 3. EGGS has only 17m float shares and the last three trading days alone traded almost 60m shares. No doubt that a new solid support has been formed at around 22-25. In fact, EGGS never really penetrated 22 even under worst sentiments. Why EGGS went down at close? Day traders exited. That's it. No big deal. Internet stocks will continue to be volatile. Both longers and shorters will have your times as long as you are patient enough. However, it should be pointed out that the upward potential is much larger than the downward one. Internet stocks WILL go up. It is just a matter of when and how. Every internet stock has its own timing. Gary G.