Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (7888)	2/16/2001 11:09:56 AM
From: James Strauss	Read Replies (2) of 13094

Trading The Gap... ************************ Yesterday was a classic example of being alert to the gap... bigcharts.com As you can see, the Nasdaq gapped up at the open yesterday... It left a vacuum between the 2480 and 2550 areas... This meant that sooner or later that gap would be filled to the downside... The Nortel news last night hinted that it would happen sooner... Today we saw what happened... There was too much exuberance... Today on CNBC they were talking about an earnings recession... This is where the earnings growth slows and possibly dips into negative territory... As earnings growth contracts so will the P/E multiples... When P/E multiples contract prices decline... That's what we are now seeing... stockcharts.com Note the MoneyFlow is now negative on the Nasdaq... We seem to be headed for another test of the 2250 area... Jim

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