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Strategies & Market Trends : Ask DrBob

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To: bcrafty who wrote (41536)	7/28/2001 11:07:54 AM
From: shoreco	Read Replies (2) of 100058

bcrafty....I would have to say "Yes" and this is why....Although the candle has some body we only closed 6pts off the open and if we gap down Monday morning we will be forming an Evening/Doji Star formation...Although not confirmed until Monday this is what I see....Take a look at some of the recent strenth stocks such as MSFT,EBAY,QCOM....On the dailies MSFT and EBAY have turned negative and on the weeklies they are falling fast...QCOM on the other hand has the classic Doji and even though some bonehead put a $100 price target on them, I don't buy it (Remember the $800 price target in 1999..LOL)...Take a look at the COMPX, it is bumping up against the upper trendline and if you take a closer look at the chart since the highs of July you will see a decending triangle and I doubt we hold 1940ish on the third try (3 times a charm) and this alone will excel the selling..IMO..And how can we breakout when MSFT/EBAY/Etc.Etc. are breaking down...We can't !!! This is what I see....So Please don't buy or sell anything based on this post... What do you see ??? Enough Rambling Shoreco

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