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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: The O who wrote (5071)5/4/1999 11:34:00 PM
From: Dave Krishna  Read Replies (1) | Respond to of 28311
 
Nice summary. People are in a panic because of the severe declines in their portfolios. However, they do have to keep their eye on the ball here. The decline from 199 has been on much lower volume than on the way up. Although todays volume was higher than yesterday, most of the volume was between 142-152. The decline to 130 was on very low volume. 130 may serve as support as it did prior to earnings, but the way the overall market is behaving, I would guess tomorrow will be a gap down for everything. If this happens it would be a tremendous buying opportunity IMO. People are selling because they are scared, not because GNET's outlook has changed. 124 is the 50 DMA.
Good luck.

Dave



To: The O who wrote (5071)5/5/1999 1:34:00 AM
From: DataBits  Respond to of 28311
 
I agree with buying into panic selling. Quick reversals happen all the time. Although, I tend not to hold shares during a down market. Today (Tues.) I was able to sell shares at open for 147 1/2, making a small profit, and re-purchase an equal number of shares for 134 1/2 at the close. Saved 13 points equal to $6,500.00 for 500 shares.

If we see a reversal tomorrow great, otherwise I will drop a few thousand and buy back at $100-120 range.

Just my thoughts


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