WR's Momentum Trades Message Board

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Strategies & Market Trends : WR's Momentum Trades

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To: Bernard Ng who wrote (9592)	3/8/2001 7:23:04 AM
From: ChrisJP	Read Replies (2) of 11130

hi Bernard, I'm the kind of person who's always looking for sign posts .... .... not just in the stock market either. Maybe I think I'm lost, lol. Anyway to answer the question -- Has the market bottomed ?, I'm using a stock that has held up quite well over the past month while the rest of the markets have fallen. Maybe you've heard of it -- MSFT ! Look at this Yahoo chart: quote.yahoo.com This is a simple dMA not exponential, but none-the-less it shows that for the past 2 months, MSFT has support on its 50 dMA and resistance on its 200 dMA. I'm guessing institutions are propping it up to make the averages look good. My opinion: If MSFT breaks its 50 dMA, and especially if it drops below 52 again, we are gonna take another dive. If it trades above its 200 dMA, which it hasn't done IN A YEAR, it could be a sign of market stabilization. Regards, Chris

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