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Strategies & Market Trends : Steve's Channelling Thread
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To: Zeev Hed who wrote (4191)8/9/2000 3:40:02 PM
From: GTC Trader  Read Replies (1) of 30051
 
UPS - Zeev, when you get a chance, I would like an update on your thoughts re. UPS. About 3 months ago you suggested that they would be a good short. They have been in a rectangle (58-62) for most of the last 3 months, and the last couple days dropped to 56. The rectangle would give a target of 54, which was support in February. Viewing it as a triangle from 55 to 65 with point at 60 would give a target of 50, which is roughly the April low. I am currently short with at SL at 57 5/8.

Also, a couple of days ago you predicted the Naz would "turn" Wednesday or Thursday. I think you meant turn DOWN, but I am not sure. Please confirm.

Thanks again -- HB

P.S. I will have to check out the 9/2000 issue of Popular Mechanics.

P.P.S. SUNW looks like a turn-around day. Gapped up to 112 11/16, ran to 115 3/16, and now dropped below 111 1/2. Dare I short it? (Wish I had at my original target of 115!)
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