Joe, no question in my mind that CHK is a great long term hold (my father has proved this<vbg> sitting on a 300% gain currently)..Well, who knows what will happen today with CSCO's poor earnings,,not really a surprise,IMO..but..
Looking through a couple of charts,,both the $BTK and PRCS bounced nicely off their bullish support lines,making for pretty constructive patterns,IMO..(but I've been wrong many times before<g>)
Using a secondary BS line drawn from a box below the print of 545(45 degree angle) you can see it held the line.Now up against a spread top (resistance at 510). Worth watching.
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Very similar pattern for PRCS,,held the bullish support line and now up against a spread top (resistance at 28)This one moved up nicely off the triangle..a neat triangle, intersection of the bullish support and bearish resistance lines..will keep an eye out for this pattern in the future,,I see that intersection as ground 0<g>.. a crap shoot, but if one believes the fundies point up..well there in lies the gamble<lol>..love to see these resistance points broken to the upside,,bought some DRBNX last week,a little early but we'll see..I will cut and run on a significant break of the BSL..no time to be a hero..;^)
DD
Nas futures looking real weak,,won't help my cause unless investors still view bio's as safety (why I don't know<g>)
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