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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: d. alexander who wrote (24709)	1/5/2000 4:39:00 AM
From: Johnny Canuck	Read Replies (3) of 68357

Hi Dorothy, SP500 buy signal triggered going into the close. I don't know how accurate it is due to the messed up data. I agree with Jim that we bounce at the open. The sell off looks pretty orderly so far. There was only concentrated selling into the last hour. Most of the day it appeared that the stocks fell due to lack of buyers as opposed to people selling at all cost, the volume was not above normal. Individual stocks were still reacting to news. Notice SPLI bucking the trend. I would not get worried unless it look like we break 1380 and are going to 1350 without a pause. For the bounce, I would play the stocks that have had recent upgrades such as HLIT, ETEK, JDSU, NEWP, RMBS. You need to be carefully and fast though otherwise it is best to stand aside. Since I can't trust the charts right now and don't even have end of day charts I am comfortable with I will sit this one out. I am also having computer problems, so I may not be posting much. Gee when it rains it really pours with computer problems. Harry

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