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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 492.01

+1.3%

Nov 28 9:30 AM EST

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To: Connor26 who wrote (16955)	5/9/2002 8:47:48 AM
From: Susan G	Read Replies (2) of 26752

Connor, looks like you may have caught close to the the bottom on BEAS if yesterday's low holds.... It did a successful retest of the September lows this week on the weekly chart and looks like a perfect double bottom. But yesterday's low - that especially the low of Monday HAVE to hold! If yesterday's low on the COMPX holds, it may be considered a successful test of the September lows also - a higher low has formed if it holds and we got amazingly close to the Sept low before reversing. If it holds and can move HIGHER on big volume in the next 3 or 4 trading days is the clue. If more than 50% of yesterdays rally is given back in the next week, then it's time to worry about retesting again. And if that was the PPT saving the index from the cliff yesterday bu buying the futures like mad, as I suspect it was, just as they did on March 1, (and it failed to hold) then I sure hope they have more cash to hold this thing up. Because artificial interference in free markets does not work for long <g>

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