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

To: robert miller who wrote (2779)	5/11/1999 4:10:00 AM
From: wellab1	Respond to of 4467

Agree,without you Michael this thread wouldn't be on such a top level it is now To add more confusion to TA and future market direction Message 9456439 reading recommended by Michael thread : (technical)Market Analysis I have impression there is consensus as to next few months trend -- last leg of bull cycle from Oct.98 will last till May/June.It may even reach 12,000 but this number will turn most into bears instantly. 12,000 on DOW (or +10% on Nasdaq)could mean +30-40% for Internets so $100 SFE is possible. --correction June (1 month sooner than last year)to Oct/Nov.Accelerated by expected 0.25% rate increase in Aug. Down to 10,000 (strong support) even to 8,400. 25% correction could mean 75% for Internets.So,SFE 35$ is also possible. Warnings abundant about "bull traps","failed rallies",faked rallies, key points ect. In spirit of previous Michael's posts I am turning cautious and neutral.It feels like minefield ahead of us. The only hope is this starting rally will turn into strong punch turning over all those pointing down technicals for good. TA guys are the first to turn on a dime in accordance to their triangles and waves.Another example that they are not always right: couple of newsletters I was receiving changed their model portfolios into 90% cash prompted by their TA since DOW 10,800 and nothing catastrophic happened since. On the other hand a very fundamental factor: SFE's P/E of 26 (less than S&P 500 0f 29)not to mention CMGI's 125 seems to have little influence on upward movement of SFE price. Another hope is SFE can do it on its own due to good upcoming news and P/E of 26 or at least better than group or the market in general (though this was not the case in recent pullback.) I am lost here What is your Michael outlook for the next 3 months? Wellab --