Sharck Soup Message Board

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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	10/7/2001 5:10:24 PM
From: mish5000	Read Replies (1) of 37746

Just scanned the COMP charts for tomo...At this point TA plays second fiddle to news...Good or bad news will spark immense bias in direction.... It seems that for the moment, gap downs are being bought...so this should be watched closely for short term momentum clues.....We have had a sharp rise from the recent lows and many stocks have tacked on huge price and % gains...we have completed both a 38 and 50% retrace and have strong gap resistance just above... At this point I still feel that more consolidation is needed before we can move significantly higher.........but a rise above the gap resistance would likely lead to a fill which should take us up another 90-100 points... We shall see how this plays out....

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