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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.27

0.0%

Dec 26 4:00 PM EST

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To: Johnny Canuck who wrote (35537)	12/13/2001 3:25:43 PM
From: dlu	Read Replies (1) of 69249

I have not followed BGEN but yes, it is looking healthy today and on good volume... at least twice as much as normal. I have followed AFFX and DNA somewhat.. in and out a few times. I am still figuring out some of these bio's... I concentrated on semi's and FO's too long <g>. The chart looks bullish here. It went into oversold yesterday on the channels I run...broke below bottom. It looks like there is some short term resistance at 57-58, then 64 mid-term. You'd have to go back a while to find any gaps... looks good. I see that so far it's not breaking thru 57-58 so it will be one to watch in that respect. My question would be... what caused that huge selloff back in late June/early July? I'd be inclined to play this on stochastics and channels .. it has a fairly repetitive pattern in the past 3 months. Update... In the past few minutes the chart on BGEN has taken a drastic turn to the downside. Really makes ya wonder doesn't it...some days you just feel toyed with! Volume 8.2 M and growing... interesting.. I'll start streaming it every day and see what happens. Thes bio's... they really rattle me. dlu

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