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Strategies & Market Trends : Classic TA Workplace

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To: Terry Maloney who wrote (33116)	3/5/2002 6:35:37 AM
From: AllansAlias	Read Replies (1) of 209892

Transport strength took me by surprise yesterday, especially some reversals in the truckers, but my retailers looked weak. A few transports had powerful breakouts: DAL and FDX come to mind. Very powerful thrusts our of s-t putative rising wedges. That's Hound'ish, no doubt about it, and it has made those charts look more like 3 of 5 moves rather than weak topping formations. Today we have a couple of the big retailers reporting and again a couple more on Thursday. I will be keying off them and I expect them to be soft despite reporting good numbers. Key transport stock to watch: JBHT -- is it really going to reverse that bear flag? That would be a powerful s-t Hound signal. I favour that it goes soft today and begins a strong leg down. Key retailer to watch: KSS reports today and is sitting just under resistance from the Dec high.

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