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Strategies & Market Trends : Trend Setters and Range Riders

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To: bobby is sleepless in seattle who wrote (1496)	1/13/2001 8:08:35 PM
From: Susan G	Read Replies (3) of 5732

GLW - Looking good! Info from a newsletter GLW - Corning Inc. $60.88 (+10.75 last week) s/l $57.75 We were underwater with GLW after adding the stock to our play list on 1/3, but the four-day rally in the NASDAQ pushed shares of this optical giant back into the black for us. We are now up $5.44, or 9.8 percent. Things are going well for the NY-based company. While competitor Nortel Networks announced 4,000 layoffs Friday, Corning said last Wednesday it was adding 125 new jobs to its burgeoning microchip business. GLW is still having trouble keeping up with demand. Looking at the chart, Thursday's break above the 20-dma was encouraging and the 50-dma looks ripe for a fall at $62.80. The bullish crossover of the MACD on Thursday also bodes well. Last time that happened, shares ran from $64 to around $79. Shares are also on their way to filling the gap from 12/19-12/20. Next Earnings: 01/22/2001 Chart = stockbottom.com

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