Stock Attack -- A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: bobby beara who wrote (29713)	9/13/2000 5:53:31 PM
From: AllansAlias	Read Replies (1) of 42787

bb, I disagree on ORCL. Perhaps you meant only for a day or two. Today's bounce, and even some appreciation going forward will present a better short opportunity than is being presented long here. The bigger picture is we had a failed breakout of an ascending wedge that goes back to the May lows. The trendline is in the process of being broken. It may take a couple of tries. I was struck by how it failed rather meekly yesterday, given that it was testing both the TL and the 50 dSMA. Nice rising volume on this descent too. Even though we got a bounce today we still ended up with a lower low and lower high. No, I think high caution is called for on ORCL. Been wrong before, could be wrong on this, but a mania stock such as ORCL that is priced for perfection can hold up to very little negativity.

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