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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 692.27

+0.3%

Jan 15 4:00 PM EST

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To: Johnny Canuck who wrote (36256)	2/27/2002 4:00:58 AM
From: Johnny Canuck	Read Replies (1) of 69795

[ Older articles ] [RumorDude] Tue Feb 26, 10:10pm PST JNPR A couple of readers have asked what I'm thinking on JNPR down here. Earlier we picked up some kind of far out there calls based on the following chart. Keeping in mind the RSI is currently suggesting oversold so a slight bounce might be expected here -- I don't see this as reversing course yet (ADX) but I do think it's getting closer to a bottom. Notice also it's now on top of the downtrend line, as opposed to on top of it. The negatives here are pretty obvious: debt/equity > 1, slowing business, fewer potential customers, etc. With the current emphasis on debt hatred, the 100% retracement is quite understandable. For ~15% of the current share price, you can buy into a thought that it might be oversold on that and could bounce towards the 50%, or around 20, on a market rally (which I still don't see, despite madtrader's comments) none additional

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