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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who wrote (354)	2/25/2002 11:17:05 AM
From: Robert New	Read Replies (1) of 787

Good news in the home building sector. Im wondering how much longer this can last. After running a scan on many of the home builders this weekend I started noticing a consistent theme of negative divergences between the recent price action and the MACD. Take a look at BZH...MHO...RYL...TOL...for starters. Joe you may be onto something here. Thanks for bringing it to my attention. I have no positions here currently but this bears watching imo... We bounced off the bottom of the Nasdaq channel at 1700 on friday and think we could see a couple of days of follow through here...the top of the channel comes in at/about 1790. If we move back down and take out 1690 naz...500 soxx..1074 sp's...i think we'll go fairly fast. Poor volume on the Comp on todays move higher.

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