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Biotech / Medical : Cell Genesys (CEGE)
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To: Wildstar who wrote (999)7/26/2000 10:59:18 PM
From: John Madarasz  Read Replies (1) of 1298
 
. I think that the Naz may have just seen the bottom (along with CEGE).

That's your call<gg> Good Luck.

I can and will wait though, I think the compx could go either way here, and I think this is a trap. Maybe the naz will rally and put in a right shoulder at 4100 or so, then break down...5 days of distribution in the compx last month, and three this month so far leads me to believe professionals are still, in the majority, short...and time is on their side.

The nasdaq has rallied 40 some % since the bottom, and on much lower volume than the first drive to the highs... it looks tired. Besides, everyone is waiting for their new batch of credit cards to come in so they can max them out buying stocks<ggg>so it should take awhile to get some more liquidity in the market.<gg>

It's the OBV and the relative strength that sway me... and the BTK put in a triple bottom at the lows today. It could break either way, so I'm not a buyer.

US $ trending down at the 50 DMA, looks like it's headed to the bottom of the rising channel at 107, gold ready to rally...

fundamentals say time for equities to break down maybe.

That's my play and I'm stickin with it.<ggg> Maybe I'll buy a few gold stocks for goofers tomorrow around 10 am.

Best of luck regardless.

JM
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