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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: StockOperator who wrote (5149)4/6/2001 12:36:26 AM
From: StockOperator  Read Replies (2) of 52237
 
A quick note about today's rally. We are definitely not starting another bull leg here. There is a forest full of resistance immediately in front of most stocks I follow. That is not to say that some stocks can't or won't run farther than others. That's always the case. But the resistance is so heavy for most of them that I believe the upside is limited after today's move. Stocks like DELL and YHOO which were praised by WS literally have nowhere to go. In the case of YHOO a break from this level could push prices towards $40 (doesn't this stock still have a PE over 100??). I don't buy it. The pressure is there for all of them.

Once again the end of the week closing prices is all too important. It will put a cap on all the action this week and tell us in which camp the traps were set.
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