Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: kendall harmon who wrote (81375)	2/1/2000 9:26:00 PM
From: Jenna	Read Replies (2) of 120523

RNWK.. up and down.. now up. rode it up, rode it down.. now I would look at the February 160's calls (13 1/2 down from 28) or the Feb 165's calls (11 3/4 down from 24). Just trade them as if they were the stock. A cup & handle chart formation breakout was made when RNWK traded above 159 the first time (coinciding nicely with its earnings report) and RNWK went up to 181, then followed a corrective phase, one long bearish candlestick, one long doji (yesterday already signifying possiblity of a reversal) culminating in a hammer today. Also a double bottom breakout point & figure chart formation and 10 day moving average breakout. If you are daytrading RNWK it triggered a 5 period moving average crossover (60 minute chart) at 155 making it already a good possibility as a swing or daytrade. Pretty good predictable price patterns for a 'classic' internet play and one of the best IMHO.

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