MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: macavity who wrote (7223)	3/13/2001 9:31:29 AM
From: J.T.	of 19219

Look at the weekly charts and there is not a lot of support for most of these (NDX) stocks. I am sorry to say but QCOM is amongst these stocks. This is carnage, but I cannot stress the potential for things to get worse is definitely there. The Biotechs - BTK and BBH - have broken down severely and this is causing most of the drag on the NDX. Most windows/gaps caused from the BGEN news in January have been slammed shut. With DRG failing @ the 397/400 level I think that the B/Tech bubble could really implode (more?). I know that they may be great companies but the stocks have got very little support, due to their parabolic Y2K rally (ditto QCOM). Excellent calls mac... I have made a bad call on QCOM let's see if this stock can get back to these higher levels in the second half of 2,001 and beyond. You read on the BTK/BBH has been dead on and falling Biotech is what has dragged COMP to lower depths in the vallley the last few days... Keep up the great work. Best Regards, J.T.

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