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

To: SAMOA1 who wrote (5904)	1/15/1999 11:47:00 PM
From: Annette	Respond to of 8307

But aren't there higher priced stocks to short? Heck even AAPL makes a better short(a stock that always runs back to the 40 mark) Maybe we are just starting to feel like the Compaq stockholders who saw that stock sit at one spot(was it 30?) forever...finally the analysts upgraded it and it moved...a bit. Annette

To: SAMOA1 who wrote (5904)	1/16/1999 9:50:00 AM
From: MarkM	Read Replies (3) \| Respond to of 8307

What's strange about EGGS movement? It is a respectable $3 above the 50MA. It has solid 3-way support at $20, (lower side of 10-session Bollinger, 50-day moving average, and strong past session supports). It is currently resting on the centerline of the 10-session Bollinger band and the 20MA. The 10-session Bollinger band currently has 5 down sessions followed by 5 up sessions. This means that for the next 5 sessions there will be a natural upcurve in the Bollinger centerline, provided that EGGS stays flat to higher. This should squeeze us towards 26 by end of next week, with higher lows but not higher highs. 26 area is extremely strong resistance, from both the high side of the 10 session Bollnger band, and from strong past session resistance. I see a gradual rising trend next week (barring global collapse, etc) to where the Bollinger centerline is about 24 to 25 at the end of the week. As we reach this area, there's strong support to jump 26 into the 28+ area, with a pause at 28. There doesn't appear to me to be anything strongly unusual about EGGS chart. In fact, it looks to be moderately bullish with some volatility. This is my take. I appreciate anyone elses forecast for next week & up to earnings. Good luck & good trading.