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Strategies & Market Trends : Steve's Channelling Thread

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To: captaintime who wrote (20940)	7/19/2001 2:25:25 PM
From: Zeev Hed	Read Replies (1) of 30051

I would be careful here with IGT, if it breaks $53 or so, it could go down quite sharply. The pattern is no longer an uptrend, and while buying for a bounce here (with a stop loss at $53) seems "rational", since i sold it (on breaking the Jne lows) I no longer recommend this one. Since i expect the market to tank in the near future, there is a good chance that $53 will be taken out. If the market tanks and $53 is not taken out, then it is a good entry point. In the meanwhile, I am trying another bounce on GMST here from $48.48. Zeev In edit: Also in MERQ at $35.31 and brcd at $31.81, QLGC at $45.18. Also jumped into EMLX at a deep discount at $22.88. With some sorrow, I anounce the departure of another core holding, COO breached $46 and got out just under that price.

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