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

To: stratolink who wrote (7398)	3/24/1999 8:30:00 AM
From: Anaxagoras	Read Replies (4) \| Respond to of 8307

Hi stratolink, It's nice to hear a bull chip in and remind me of that side of the picture; but as you know, I don't buy it (nor the stock)! ;-) I think there's a very solid ceiling to where this stock will go until the Fall when it's a whole new ball game, and at which time I might be long. $26 is that solid, solid ceiling, IMO. <<If the stock does not drop down too much following the last of the three underwriter buy recommendations, it shows good support.>> Hey, you forgot this! (squib from Marketwatch): <<Egghead.com (EGGS) shares rose 1 15/16 to 20 1/4. Prudential Securities began covering the online computer products retailer with a "strong buy" rating.>> So it's four from the SPO. Oh, by the way, in Herb Greenberg's column yesterday he re-iterated his little thumb rule, which I think rings true. The comment was made with reference to Delia's intended spinoff of iTurf: <<Forget that it [i.e. the IPO] has five underwriters. (Any more than three can be a warning that the company is pulling out all stops to get the stock sold and secure positive analyst coverage.)>> Cory Jonson's article posted here the other day told us what we already knew- the coverage was bought. BTW, I'm not necessarily faulting EGGS for doing this- there were pro/con sides here- they needed coverage, no doubt. It's too bad that the shares got priced where they did instead of several points higher. Anaxagoras