looks like softie is going to win today, too much weight on the market today to drive through the downward trend line, that means we drop back to the other end of the range, i would expect negative bias to last throughout the day, i cant see new longs entering prior to 3 day weekend, much more likely to take weeks gains off the table today, next week, we will see if market can gather itself and drive through the upper boundry of the downtrend, yesterdays high should hold as the high of the week, and i would think a lack of buyers would drop the market as day goes on, shorted more jnpr here, that could see 120 area today if im right, on a bullish note, with the news on gtw,hwp,sunw ppi, california power crisis, etc, this market could have tanked a whole lot further
longer term, aol should probably be bought on a pullback
i've
taken my profits on my "fave four" idti from 30 to 47, mslv from 8 to 18, elnt from 22 to 42, and still holding efnt from 15-17 entries, that one will pop when dsl comes back (and it will), but 3 out of 4 aint bad! |
