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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (2743)8/30/2000 5:06:59 PM
From: Chip McVickar  Read Replies (1) of 33421
 
We'll see if it was a good move..?

3 Times in the last 2 years to break 140.00, it may yet move above that resistance...? There's a cross of median lines around 132-135 and that was a juicy target for a top. (fork 6/2/99 and 3/2/00)

After that double bottom at 100 and the run from 120, I decided take 50% and lock in profits.

Will buy back on any significant retrace. The new fork (6/8/00) has a cross at 112 with the 3/2/00 fork and it's lower tine around 9/13/00. I'd be a buyer any where around there. That date is also around the time frame I expect the next leg up to begin in the DOW.

But these markets look strong and IBM may just stay up there without much of a pull back..?

We'll See.

Chip
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