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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.92

-0.7%

Dec 31 4:00 PM EST

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To: Johnny Canuck who wrote (36957)	5/7/2002 2:47:26 AM
From: Johnny Canuck	Read Replies (3) of 69345

LAST UPDATE: 05/06/02 6:51p ET The markets are really stretched to the sell side, but that doesn't seem to help right now. The unfortunate thing for the bulls is new short sales are showing up on the nightly scans and turning this into a bonafide momentum event. ***************************** [Harry: I agree here. ESST is a pretty good example. It is breaking down on accelerating volume. My stop loss is long gone after my 15.25 entry. The idea was to scale in, but the technical damage will take a long time to repair. Something is wrong with the fundamentals that was not reflected in the earning report. There kinds of stocks are dangerous. Short and a short squeeze will take you out with a loss. Go long and the stock will break down further. Despite the good outlook for the sector and the upping of estimates for HLYW. There is something seriously wrong with this and other stocks. ]

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