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Strategies & Market Trends : Drillbits & Bottlerockets
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To: Rich1 who wrote (3044)2/8/2001 12:59:22 PM
From: John Pitera  Read Replies (1) of 15481
 
2349 on the NDX was a .618 retracement of the entire Jan advance from Jan 3rd to the high on Jan 24th.
that's a cornerstone concept of fibonacci retracements, so there should have been short covering as well as
buying at that point. The NASD did not make it down to 2496, which would have been it's .618 retracement.

The fundamental story continues to improve at FLEX. that stock has held up well this past year, considering
the pretty massive tech wreck.
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