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To: Copeland who wrote (77487)	12/1/1999 12:09:00 AM
From: NickSE	Read Replies (1) of 86076

FWIW, I took a look at the two prominent internet indices and noticed they were extremely close to generating sell signals today after huge blowoff moves to the upside. The IIX managed to hold support at 440 (P&F sell signal waiting at 435) and the DOT held support at 925 (P&F sell signal waiting at 920). With the YHOO news tonight, the break which seemed imminent now appears to be in question at least for now. I'd continue to watch those support levels as well as the IIX and DOT resistance levels at 475 and 1005, respectively (P&F buy signals waiting at 480 and 1010). Also, the P&F Internet Sector Bullish Percent, currently at 69%, is approaching danger levels (70%-100%) and a reversal down from those heights could bring serious tough love to that sector and possibly be the catalyst that brings on a market wide correction...BWDIK <<<a bunch of tech and nets broke below a few resistance lines today>>> (Bullish percent explaination - Just substitute the NYSE stocks that are being described, with the i-nuts, and you'll get the picture of how the BP levels work - 204.232.40.6; GN, members.home.net

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