The Thread Formerly Known as No Rest For The Wicked Message Board

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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: Tim Luke who wrote (66481)	10/19/1999 3:27:00 PM
From: Bryan	Read Replies (2) of 90042

I don't see the big deal here. CS moves up from $8 to $12, and eventually breaks $12 and over the next few months forms a base near that level. The new support was tested several times and after holding, an upward trend unfolded and brought CS up to a high of $20. The consolidation between $12 and $16 lasted for several months, but the move up from $14 to $20 was quick (within 1 month). In the midst of the current environment (weak sector, earnings warnings, rate fears, Y2K, etc) why is it so hard to justify this pullback? One thing to take note of is that the retracement is not unfolding at the same pace of the rapid appreciation from $14 to $20. This can be attributed to......? 1) Institutional interest on the bid as CS retraces? 2) Investor buying interest (from those who missed the first wave up)? 3) Additional takeover interest? 4) Tim Luke pounding the table? <-----Just kidding. Any way you slice it, it appears that there is interest to buy this damned thing everytime it dips. I only wish it would dip down to MY levels. I'll be there. If I was in it, my view would not be different. I would be adding to my position down to $11. Good luck bk

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