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Technology Stocks : Full Disclosure Trading

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To: kdavy who wrote (32)	4/8/2002 8:51:54 PM
From: Jacob Snyder	Read Replies (1) of 13403

IBB: anyone care to comment on this Exchange-traded biotech index fund?: stockcharts.com[h,a]dahlnyay[df][pb50!b200!f][vc60]&pref=G Looks to me like we are coming to an interesting place in the chart. Support has been found, in the 60s, going back to April 2000. But, since September 2000, we have a clear pattern of lower highs. That is, every rally fails at a level lower than the last one. And those two lines, horizontal support and declining resistance, are quite close to each other now. So, something has to give. If I was more optimistic about the macro picture, and wasn't expecting some more "exogenous shocks", I might buy, gambling that support in the 60s will hold.

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