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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: andy harrison who wrote (2688)	4/22/1999 11:41:00 AM
From: wellab1	Respond to of 4467

they just got locked in by 99,200 shares buy order at 96 7/8 up 7 1/4

To: andy harrison who wrote (2688)	4/22/1999 11:51:00 AM
From: michael r potter	Read Replies (1) \| Respond to of 4467

If internet stocks are now in a trading range as proposed, what might it look like and what could be the eventual resolution? This is a speculative analysis, but IMO the most likely course is a trading range with the lows above recent lows and the highs well below recent highs. Normally, the trading range could be expected to last a number of months, and that is still the best guess, but there is a chance it could be shorter since market action in general is compressing what would be normal action into shorter periods. The eventual breakout of that trading range should be to the downside. Of course a few internet stocks would not conform to the general scenario, and have upside or downside breakouts or breakdowns depending on their unique circumstance. If the trading range pattern is now the likely course, then would SFE be the exception? Probably not, as its stock price is largely tied to the perceived value of its private [internet type] holdings, and there would be no reason to value them much higher than they are now, unless the whole internet area it re-valued at a higher level. One wild card is institutional investors, who are underweight internet stocks, and may accumulate, but I believe they may stay underweight for a long time. They were way underweighted in Coca Cola, for years, as it had a huge move up as they perceived it to be overpriced all along the way and refused to buy at what they feared might be a top. The market will do what it wants to but I like to have a framework to go by, then revise it if necessary. Mike