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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: Johnny Canuck who wrote (33233)	7/3/2001 2:45:36 AM
From: Johnny Canuck	Read Replies (1) of 69833

Security software stocks blew up? Should people really be surprised after SYMC? I know I spend too much time talking about tech stocks. But there is a much bigger market out there and I feel that portion of the market is about to explode! The old timers in the market like to watch two key stocks: GM and GE. GM has been acting fabulous, it is currently the strongest stock in the DOW. GE has finally seen it's 50 day MA cross above 200 day MA. The last time the stock did that was way back in December of 1998, and it went on to a 2 year run afterwards. But none gets me more excited than the action in T. The biggest telecom stock of them all (at least it used to be). The stock has closed above 200 day MA for the first time since April of 2000. I understand it is too early to call a come back of T, and even earlier still to call a come back in telco spending. But the market is clearly trying to call a bottom here (check out VZ, it is doing the same). rumordude.com

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