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Technology Stocks : INTEL TRADER

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To: Trading Machine who wrote (9001)	2/17/2001 1:09:30 PM
From: Gersh Avery	of 11051

homestead.com The descending fork in the upper chart was suggested by Chip a few days ago. It seems to be active, based on the couple of bounces off the mid tine. We gapped down across the mid tine Friday morning. The upward sloping fork (in both charts) also seems to still be very active. The bounce off the lower tine was very pronounced Friday. If we do head lower from here then the next stop should be at the lower tine from the upper chart (new fork). Currently this is at 1263.04 (for Tuesday). Another note is that there seems to be a cluster of SMA's in the 1334-1342 area that could well act to thrust the index back down again .. Again IP is on a "buy" right now. I believe that it reverted back to norm two months ago. My 401k is (and has been for a long time now) setting in the cash, fixed interest option. If there is a move down from here, I'll put in a buy order with 3/2 as the target entry date. If not then I'll wait for a while longer.

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