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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Bridge Player who wrote (763)	4/11/2002 10:06:29 PM
From: Dan Duchardt	Read Replies (2) of 787

BP, IBM rose more than 3 on that news, getting close to 88 before settling back to 87.26. The "new highs" on Nasdaq made the new high yesterday at 251. Today was lower at 216, but that is still higher than all previous days before yesterday going back to July 2001 I'm not sure that is of huge significance because it is really a reflection of the the deep low in the Nasdaq in April 2001. Up until now, the prior 52 weeks has included the steep decline from January through March 2001. What we are seeing is not so much a large number of stocks making great gains as it is the lowering of the threshold for comparison. Look at how low the left side is on this one year chart. stockcharts.com[w,a]daclyyay[dd][pb50!b200][vc60][iUb14!La12,26,9]&pref=G A few weeks ago it was a lot higher, as you can see on a two year chart stockcharts.com[w,a]daclyyay[de][pb50!b200][vc60][iUb14!La12,26,9]&pref=G Still, if somebody can spin it right it might help lift things. Dan

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