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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (5345)	12/26/2001 1:03:51 PM
From: Logain Ablar	Read Replies (1) of 33421

Hi John: I need to go run soon to work off some of the holiday. I printed the NAZ Pnf charts and here are some links to stocks in the storage sector. IMO this has been the strongest off its September lows. Should be the last to fall with the fall being the shallowest? One of my quandaries is the sector ahead of itself or did it just sell off too much after 9/11. EMC stockcharts.com Looks to be right @ support in $13.5 area. EMLX stockcharts.com Looks to be forming a bull flag but it did break above the bsl. Its been a monster off the Sept lows but we are now in an area of prior support (initially on its Feb drop) / resistance (we are just below the May highs). I sold out my last shares @ 25.5. Depends on overall market if we get back to this level. QLGC stockcharts.com This started to break down. Maybe a target of 36? MCDTA stockcharts.com A lot of support around 20 – 21. Maybe back to 15 the bsl?? NTAP stockcharts.com Nice run but like emlx you would think there would be a pull back. JNIC stockcharts.com We’ll while I don’t think they are in the same league as qlgc and emlx they do have a good balance sheet are they should participate with the sector if it does grow next year. VRTS stockcharts.com Another leader in the space. STOR stockcharts.com BRCD stockcharts.com Actually from my readings they have some issues with CPQ and CSCO which is a plus for MCDTA. Anyway all the above charts look pretty good. There are other sectors which also look good and have started pullbacks (like software security, neta, chkp, symc). The NYSE BP is still in bull alert. This needs to pull back and print 3 O’s and then reverse to be in bull confirmed. Its reaching 50 which is the mid point of stocks on buy signals. stockcharts.com

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