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Technology Stocks : INTEL TRADER
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To: Gersh Avery who wrote (8633)6/29/2000 11:07:07 PM
From: Berney  Read Replies (1) of 11051
 
View from the Foxhole

The bloodbath of the bulls continued into the morning with DJIA fighting the battle ~10420, NDX ~3670, OEX ~779/780 and SnP ~1440.

Only the SnP was clearly able to close above the battleground number. Might have been a hollow victory as the bulls were overrunning the bear positions on a charge from 1435 to 1455. It was at this point that the reinforcements arrived for the bears.

In fact, from my foxhole that is definitely in the bear territory, I heard the Black Prussian's general scream: I will personally kill any bear that shows any sign of mercy to a bull. The bulls could only fill the morning gap and were forced to retreat. The SnP closed the day below it 50 day EMA.

The DJIA is potentially on the verge of testing its monthly up trend line for this bull run since late 1984. Monday starts a new month and I show the line will be at ~10,270. A break of this line will cause some fireworks of its own.

It sure seems that the NDX wants to test that exagerated monthly trend line at ~3,265. It's just a matter of whether the seasonal bullish factors can override the current negative picture.

Well, tomorrow is another day. With month and quarter end window dressing, it could be a good day for the bulls. I'm just glad that my puppy did not hit another 52 week low. A change in the trend? I hope so.

TB, a war correspondent.
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