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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (4989)	12/27/1998 8:36:00 AM
From: LastShadow	Read Replies (1) \| Respond to of 43080

QWST and TMCS QWST had a lot of volume that few days, so it wouldn't surprise me to see it correct back down to the 44-45 range after a little profit taking. Remember that the day before Christmas is a hugely volatile day, and although it is generally a goodtime to go long, one really can't base near term price action on its movements that day. A lot of people who were long on it earlier in the week may well decide to exit Monday. TMCS doesn't have enough history for me to do anything with technically, although the chart pattern is pinched to a pennant, and with most of the internets that has been a good thing. The price seems awfully high, although this is one company that does have an infrastructure behind it and was doing business for years before adding a website. My personal opinion is to wait a another month or so for the price to correct to a reasonable level and get on for the rise (see EBAY, etc. IPO's), but Ticketmaster may be different because it has a history. I don't know the company's fundamentals, and that will in fact drive this one's near-to-mid term price action. lastshadow