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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: out_of_the_loop who wrote (4287)	1/22/1999 1:11:00 PM
From: SJS	Read Replies (1) \| Respond to of 19700

Technical evals of INUTS stocks: Hold on tight!! ___________- AMAZON.COM (AMZN) 116 7/8 +10 7/8 EBAY (EBAY) 193 +11 1/4 YAHOO (YHOO) 272 15/16 +7 15/16 A strong positive technical indicator for all three stocks, as the price rebounds on higher volume. For all three stocks, the volume will be higher than yesterday's, if the pace continues through the day. If the price stays up from yesterday's close, it marks the end of the "pennant formation" that we discussed in Thursday's Stock Brief. From a technical analysis viewpoint, this is considered an extremely strong positive signal. It should be admitted, however, that technical analysis is an imprecise science, and many professionals use it only as one of many other indicators. In fact, within the Briefing.com analyst staff, there is divergent opinion on its value. Nevertheless, for these three stocks, technical analysis is important, because there are so many TA players involved. Some even argue that TA players dominate these stocks. Pennant charts are used by technical analysts as potential plays. The pennant is formed when a stock declines, on declining volume, and the intraday range narrows. The play occurs when an upswing in volume happens with a modest or sharp price increase. That has now occurred on all three stocks. The indication is that the stock has reached a price where latent demand returns. For a technical player, it indicates that the stocks are going much higher; in fact, the target is usually picked as the peak of the previous pennant. For all three stocks, that would be new all time highs. Those are extremely lofty goals for all three stocks, especially considering the weakness in the rest of the market. But pure technical analysis means ignoring all other factors, and it looks like that is happening today.