[CANSLIM] IACI - top or new base?

From: "Richard Tafoya" <cwh@mendomedia.net>
Subject: [CANSLIM] IACI - top or new base?
Date: Mon, 30 Jun 2003 22:37:50 -0700

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I held a sizable position (for me) on this for the past couple of years.
I began taking profits off the table in the high 20's and recently sold
about half of my remaining position around $38 and got spooked with last
week's selloff and unloaded the remainder around $36 when it got a
little too close to its 50 DMA on high volume for my comfort. 

All in all, no complaints, but seeing it cross $40 briefly today makes
me wonder if there's more gas in the tank. I'm completely in cash while
this week's expected volatility plays out, but knowing that Yahoo
reports next Monday, I'll be watching carefully to see if they surprise
to the upside and spark some sympathetic rally activity in the
Internets.

Of course (and this is part of the internal dialogue I treat myself to
constantly), the major Internets (IACI, EBAY, YHOO) outside of search
(FWHT, OVER) are already so extended, they don't seem to present any
kind of decent entry point. Which, of course, is why I'm on this list
and paying lots of attention to cwhcharts, canslim.net and
amateur-investors.com, looking for other candidates with strong
patterns, fundamentals and ideal entry points. After all, I'd find
another 20% upside on YHOO hard to believe, but as we saw with SOHU,
SINA and NTES recently, it's very possible in plenty of other places.

I guess at the end of the day, I'm looking for some outside perspective
on whether I got shaken out of IACI before it exhibited any real signs
of topping. 



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