March 2, 2000
A reader wrote today asking if, while the market is still oversold, I could suggest which technology stocks were still buyable for the rally. Of course, this listed an entire portfolio of stocks I should give entry points for, which shows there is still a "buy-the-dips" mentality.
After reviewing the list, I picked several stocks, which I have commented on below:
On this list was
, which I have been recommending for a few weeks now and which is still OK, with an upside target in the 390 area. As for some new names, I have jotted down
for the past two days; the stock has managed quite a nice consolidation over the past few weeks. I am adding
to this list, but catching it on a dip to the 120 area would be preferable.
Outside technology, but in health care, is a stock I have recommended before:
. It has corrected over the past few weeks and it looks OK to get on board again. In fact, Healtheon looks poised to get through 75 on this move up.
Once again, both markets are still oversold and we should continue to expect an upward bias for the next week or so. And it's not hard to see how lethargic the rally on the
has been; I still believe it's not a sustainable rally.
Helene Meisler, based in Singapore, writes a technical analysis column on the U.S. equity markets on Tuesdays and Fridays, and updates her charts daily on TheStreet.com. Meisler trained at several Wall Street firms, including Goldman Sachs and Cowen, and has worked with the equity trading department at Cargill. At time of publication, she was long Healtheon/WebMD, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. She appreciates your feedback at