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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts
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To: Atin who wrote (46473)7/21/2000 5:55:45 PM
From: MulhollandDrive  Read Replies (1) of 63513
 
>>There is actually a lot of supply at 70 for CSCO. If you look at the last time we tested 70 when it was support between 3/30 and 4/11, all that volume is people who bought near 70. Many of them sold on 5/1-5/2 when it came back ("please god, just let me get even . . .").<<

Hi Atin,

I'm wondering if you could make that same statement about the Naz in general. A lot of people were buying into the earnings expecting it to pop, it tested the 4200 support, tried to rally, but then tanked. If the cup and handle analysis is correct about CSCO, could it be that CSCO will lead the NAZ back above the old support now resistance of 4200. Wishful thinking on my part?
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