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Technology Stocks : JDS Uniphase (JDSU)
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To: blaireo1 who wrote (7621)3/15/2000 1:29:00 PM
From: JH  Read Replies (1) of 24042
 
<I noticed you are into TA. What do your tea leaves reveal?>

In JDSU's case, there was a breakout gap formed between $117-3/4 and $125 recently. I was looking for an opportunity to buy when the gap filled.

Today's decline not only filled that gap, but went even lower - a bearish sign.

But remember, TA is not an exact science - experience and "intuition" is needed to fill the gaps (no pun intended) between perception and reality.

I believed that the decline down to $115 was a slight "overshoot" amidst the panicky selloff, so I took a gamble to capitalize on the perceived opportunity.

In hindsight, I walked away with 5k shrs at a pretty satisfactory average price of $115.90.

So far so good... $120-3/4 RT.
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