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Strategies & Market Trends : Technical analysis for shorts & longs

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To: Johnny Canuck who wrote (28627)	10/4/2000 1:50:46 AM
From: shasta23	Read Replies (1) of 67946

Hi Harry! Just scroll through some charts tonite and the techical damage is unbelievable in so many stocks. Hardly anything holding up and everything in the bargain bin: epny,gspn,intc,dell,inkt,artg...the list is endless and contains old and new names.Holding up are only some names like GLW,CIEN,maybe a couple biotech and energy chart like DUK going bonkers. AM just amazed what we're seeing here and i'm happy to be c ash. Will not jump into the first rally because after such a damaging decline there will be plenty of sellers overhead eager to get out at a better price. Think that we might see a bounce tomorrow since everybody is expecting a crash but that's just intuitive flash and can be wrong. Sure wouldn't start any long position based on that. VIX is still very benign showing no sign of a panic showing a lower reading than on 9-22-00 when we were a couple hundred points higher on the NAZ. Let's see a bottom(not anticipate it) and then jump in... Stefan p.s. whatever happened to stocks like KANA that were trading at 175 in April and now closed at 18 1/4! Breathtaking declines.

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