Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (47061)	4/23/2000 2:54:00 PM
From: wanmore	Read Replies (2) of 94695

GZ, Do you think we are going up from that trendline we bounced off last week or that we may return to the trendline on the bottom chart first? (around 2600) I had originally thought that we were going to go up from that top trendline but with the MSFT poor earnings news on Thursday I am wondering if we will flat out tank on Monday. Now I am sort of thinking that we would either hit the bottom of the 1999 channel (around 2900 on top chart) or that trendline on the bottom chart that spans the highs of '96, '97 , 2x in '98, and the lows of '99. (2650 or so). When IBM and INTC reported similar earnings they fell reasonably hard. MSFT is the gorilla of gorillas in techs....what happens to them and the rest of the market may change which line I will decide to base my trading on.

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