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Technology Stocks : OnSale Inc. -- Ignore unavailable to you. Want to Upgrade?

To: player who wrote (3180)	1/5/1999 4:50:00 PM
From: Colin Cody	Respond to of 4903

It looks like ONSL is forming a baseline again around the 40 area and stay there for a while. What's "a while"? (g) The stock crashed from the $110 level and by the close Friday 12/4 it was at $36. Then for the next two weeks it ranged $33 to $46. The following Monday it started to run, maxing out at $75 on day #2 and sliding back to the $41 area today. This is the fourth day closing at $41/$44. The difference this time (and my concern), is one technical indicator, the daily exponential 180 day rolling average closing price. Back in early December this line was at $30/$35 and the stock never traded below it, even as the line steadily rose higher. But now, the past few days see that rolling average has gotten to about $39.50 and we are "this close" to crossing the line. That plus the MACD being negative for a week now and stochastics crossing the line down today make this stock a candidate for a sharp drop. That said, I ended the day long a very small position in ONSL that I was "stuck with" after daytrading/flipping shares during the day. This is a position that I am willing to ride all the way down, if necessary. Another day above the line, and maybe some firming in the universe of Auction Stocks that I'm watching: UBID, EGGS, EBAY, COOL, BIGE and I'll feel a lot better about adding to my position. Colin