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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: bobby beara who wrote (14664)8/10/2001 10:51:46 PM
From: TechTrader42  Read Replies (1) of 52237
 
An excellent analyst (Monty) sent an insightful response to that development in MSFT's chart today. He summed it up very nicely:

"It was just a great trade off the 200(short term). MSFT will break below the 200 eventually. If it is weak enough to get here, it will be weak enough to break it."

He'd be among the first to admit that he could be wrong, but there you are: That's his hunch. Some people didn't even think it would go to the 200 SMA, even after it broke under the 50 SMA.

There's something else interesting in your chart: another small gap to be filled, from 4/10, near 57.

And something else in the chart: Look at the volume today. Why wasn't everyone rushing to take advantage of the bottom, if that's what it was -- and with such a nice hammer? There was twice the volume at the March low (more than 50M, vs. 25M).

And then there's the megaphone formation. Paul's pointed that out.
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