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Technology Stocks : WDC/Sandisk Corporation
WDC 169.99-2.4%Nov 11 3:59 PM EST
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To: TREND1 who wrote (11289)5/21/2000 10:24:00 AM
From: Zeev Hed  Read Replies (1) of 60323
 
Larry, if the Dow does not hold 10250 or so, we will be breaking a "diamond" formation, a break down (or up) of a diamond formation is one of the worst (best on break up) technical events. They are rare, but break downs of diamond formation are often devastating, just as break ups are extremely rewarding to the longs. I would say that if we break 10250 on the Dow we will indeed see a new 52 weeks low, and possibly not stop until we reach some support in the 9100 to 9300. I see a chance of a breakdown test early next week, that is why I have moved back to more than 60% cash. If we hold, I'll change my position. You know those turnips, they are fickle...(g).

Zeev
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