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Technology Stocks : Network Appliance

NTAP 109.41

-1.0%

3:59 PM EST

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To: JakeStraw who wrote (9744)	1/4/2002 4:57:16 PM
From: BirdDog	Read Replies (2) of 10934

BTW, I would be very surprised if NTAP continues to climb much higher w/o a retrace. If you look at a one minute chart. It will show a classic double top this morning. The indicator was excellent. The stock has gone down from there. If you look at a daily chart. Today formed an evening star. That is a down indicator. If you listen to any valuation junkies. They are fit to be tied about ntap's valuation level. This is not the winter of 99-00. These companies aren't growing at an excess of 100% yOy right now. I do expect a retracement. The strength of this market. I will have to take a chance at just under $25. Also bear in mind. TA wise. This market is overdue for a correction. I'm not saying it's going to happen. We could go up very much like in 98. Many TA people lost big counting on a correction. Even though it was an uptrend. They ended up with their correction. But not till October, and it was a whopper. BirdDog@OhHomeOnTheRange.com

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