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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 693.87

-0.2%

Jan 13 4:00 PM EST

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To: Johnny Canuck who wrote (35552)	12/16/2001 5:25:00 PM
From: Johnny Canuck	Read Replies (1) of 69730

[madtrader] Fri Dec 14, 1:30pm PST CPN I am going to stick my neck out on this one here. CPN was down again today on credit downgrades, and of course freaked out analysts negative comments. I don't think after ENE the management of CPN would come on nation TV and proclaim they have no skeletons to hide when there is some. And I believe what Moody's did this morning was more of a face saving attempt after they blew it on ENE. I do believe we have seen the lows for now. If people really believe the worst is yet to come, and certainly the news today is worse than on Wednesday, why then the stock trades higher than Wednesday's lows? I would consider bottom fishing on this one next week. If you are not familiar with the situation, and don't wnat a possible ENE on your hands (I don't believe so, but that's my call), stay away from a mess like this. I consider the action today a very positive tell that the selling is pretty much done. none.

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