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Technology Stocks : Network Appliance

NTAP 107.32

+4.0%

Nov 21 9:30 AM EST

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To: Jacob Snyder who wrote (9471)	11/10/2001 12:07:14 AM
From: John Madarasz	Read Replies (1) of 10934

$17.75 was a 50% re-trace to the May highs...a good place for profit taking. In Play Inv H/S measures to $18.66... next target unless NDX rolls 1st $20.52 is not only the heavy duty resistance from the 200dsma, but it's also the 61.8% fib retrace level, that's the place to position fade this move... if it gets that high, i think, on some objective lower highs. The last major rising wedge from April/May rolled into a H/S formation,which broke down as they are wont to due in bear markets, so there's no reason the current r. wedge couldn't/shouldn't either...something to look for. I'm surprised no-one has mentioned the abnormally high volume from the 1st of the month...with the exception of the blistering run beginning in late june 99 on the daily chart, the last 6 times volume was on that par, it foreshadowed a marked decline gap at $9.60 from 10/10/01 gap at $5.62 from 10/15/98 i sincerely doubt that any long term appreciation of the price from here could be sustained judging from the poor quality of the current base...re test of lows minimum imo. Also, the latest insider market data shows selling rapidly increasing again... and not surprisingly here the XYZZY Charitable Remainder Trust has 20 odd million $ worth of stock to sell; of course JP Morgan is the Broker charged with those duties...witness the recent $15 price target issued by them recently... and the beat goes on<g> Best Regards, and have a great weekend. John M.

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