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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (2704)	4/9/1999 12:53:00 PM
From: Marc	Respond to of 4467

(DAYTRADER): As one of Briefing.com's analysts is fond of saying, "It's like dogs chasing sausages on a string." We are referring to traders chasing Internet stocks. Shares of Net.B@nk (NTBK) up 16% on the session. Inktomi (INKT) soars 17%. International Assets Holding (IAAC) vaults as much as 198% on news it has created a subsidiary that plans to offer 24-hour online trading. Rushmore Financial Group (RFGI) rallied almost 45% in sympathy. Traders are using any reason they can come up with to pile into Net stocks: 52-week highs, intraday highs, stock splits, secondary plays to companies with news... In fact, the only Internet stocks that seem to be trading down on the day are those that had run up 50% or more over the past few days. (Guess profits have to be taken off the table at some point). But Briefing.com has noticed a significant change in the way these stocks have been traded over the past few months.. In 1998, traders who held onto momentum plays for more than a day or so were usually punished by the inevitable profit-taking related sell-off. Now we are seeing stocks make three, four, even five day runs. But please do not take this as a recommendation to tuck Internet momentum stocks away in your portfolio. Briefing.com is simply relaying the trends we are observing. For continuously updated coverage of the stocks attracting the interest of traders, see the In Play page.