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Non-Tech : Abercrombie and Fitch

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To: Charles Kalb who wrote (255)	12/14/1999 2:30:00 AM
From: Charles Kalb	Read Replies (2) of 335

ANF -- Technical Analysis Revisited In my post #255 of December 1st I gave a short-term bearish projection for ANF based on TA. That analysis has been right on track so far, despite one reader's assertion that Santa Claus has exempted ANF from conclusions which might be drawn from application of mathematics to price data such as regression lines (least squares analysis), statistics, trendlines, moving averages, etc. The day after my post ANF confirmed that the long-term downtrend would continue awhile longer when the price headed south from the long-term down trendline. From a short entry price of 31-3/4 my initial target was 27-7/8. That target was passed today with a close at 27, down 8.47% on the day. While I originally thought there was a reasonable chance that ANF would turn today to start another leg up, weakness late in the day should concern longs. The lower band of the short-term uptrending error channel was penetrated to the downside at the close. Also, the 50 MA, which seemed to be providing support on this latest leg down was also penetrated to downside today. If the short-term uptrending channel is broken, the next meaningful support might be back at about 22.

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