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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Mike Delaney who wrote (10323)	6/4/1999 9:30:00 PM
From: Ted Schnur	Respond to of 29970

I think is somewhat amusing that people believe in technical analysis to the extent of giving the 200 day moving average some sort of magical significance (yes, the low of the day was about where the 200 dma was hanging around). At the same time others talk about "Internet time" where a 90 day investment may seem long term! I look at Internet stocks with a 50 dma which seems to "feel better", but I'm not sure why. If that's a better fit, then the 50 dma started to decline 6 days ago, and now sits at 138. This served me as an excellent distraction as will as a lure into a sense of false hope. You see, I reentered ATHM at 127 about a week ago, thinking that the stock would bounce back to the 50dma, the 9-day RSI was oversold, the decline was in line with other internet stocks, volume was low, yada yada yada. I am not trying to say that there is no merit in technical analysis. After all, any new investor looking into this potential rocket ship to retirement heaven will just take one look at the stock chart and … uh... well... maybe latter. It's going to take some time to regain investor confidence, regardless of what effect today's news might have on the company. Ted BTW, when I heard the news, I purchased a equal position in AOL at 108, then hoped 100 would hold, then hoped for a bounce back to 100 (will I ever learn!), then sold both at the close.