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Technology Stocks : INTEL TRADER

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To: Gersh Avery who wrote (8476)	6/3/2000 1:00:00 PM
From: John Harton	Read Replies (2) of 11051

Gersh RE "Due for a rest" Couldn't agree more. My "iffy" comment was clouded by the fact that my put entry point was a bit...(ahem) premature.<g> Where OTOH yours was most excellent. I imagine you have at least a 95% probabilty to at least scalp them next week. I have retracement(not fib, need help with that) support levels at ~90 near, ~85 mid and ~75 far. I would need the ~85 to cashout and go quietly.<g> FWIW ze Chart Notes $OEX Gap up white candle (need to backfill?) 20 day MA now up (bullish) MA crossover (bullish) Bottom Support ~730 Resistence Right Here 792 Upper extent ~805 MACD signal (bullish) Stoch not yet topped QQQ Gap up shooting star 20 MA up (bullish) MA crossover (bullish) Bottom support ~74 Close above 100-101 bulls on their way MACD (bullish) Stoch also not yet topped Gap down... then black candle Monday would produce an evening star bearish candle(if you consider last week an "up trend") on both charts. The VIX thing - steady continuation of this trend would produce its first negative #s sometime next month<GGG> I mean How low can you go?(^_^) The volume thing- OK by any measure 1.9 billion(Yahoo) or 1.8 billion(CBS)on the NAZ is a big day. What's 100 million between friends? g I am a bit curious though how much is in the COMPX vs NDX. Or in other words soldiers/generals. Is it broad buying and/or concentrated in leaders? For some reason YAHOO etc doesnt provide vol figures for the NDX as a whole. They do have a components chart if you feel like tallying 100 #s every day(thanks a lot NG). Anyway heres some (Fri vol/avg vol) #s from NDX stocks that traded 10 mil plus. CNXT 10/6 QCOM 37/18 COST 12/6 CSCO 61/na? AMAT 14/14 AMGN 10/11 DELL 32/30 MSFT 40/40 ERICY 26/9 GBLX 27/14 SUNW 19/19 BVSN 24/9 INTC 21/27 ORCL 29/29 JDSU 26/18 WCOM 21/24 XLNX 11/6 YHOO 11/10 So you could say yesterday was big in selected leader stocks, while others were at least aound average(except INTC). Interesting 100 day comparison chart of QQQ & SP 500 shows a wild ride of QQQ to arrive at + .94% and a much steadier trip of SP500 to roughly same destination + 1.34%. One by air, one by sea.(The interest rate sensitive DOW was - 6.71% in same period) Gut feeling I get from this, which I find hard to describe is something like things have come "full circle" or a "chapter has closed". That the NDX has joined/become the market or maybe simple that we settle here... Anyway JMH rambling O BWDIK etc. Am curious as to your targets? If you feel like it. Thanks John

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