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

To: michael r potter who wrote (2926)	5/24/1999 1:21:00 PM
From: michael r potter	Respond to of 4467

-OT- The pressure on high PE/no PE [most internets continues], despite frequent rallies that tend to obscure the general trend, many are in danger of breaking their 50 day M/A, and many already have done so and are moving towards their lower 200 day day M/A. The damage is somewhat insidious, as it is not occurring in dramatic fashion, but the cumulative decline of the most extreme cases is significant. Yahoo is down $102 and AMZN is off $100 since their latest April peaks. This is why the messages re: a cautionary stance about maintaining margin in these types of stocks should be considered-still. No evidence of this erosion-rally-errosion [to lower lows] pattern ending. Of the cyclicals, Georgia Pacific GP and IP look especially good, coming off a high level consolidation, and recent stochastic oversold buy. There must be a lot of traders watching the 50 day M/A on SFE, because again today, it hit $71 1/8 [right on the line] and bounced off. This says nothing about whether it will eventually fail. Drugs, despite significant declines and oversold continue to trade very weak. This brings up a point. Oversold in strong stocks like AA,GP, and IP has different implications than oversold on weak stocks like the drugs. Mike