John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (6225)	5/31/2002 6:42:01 PM
From: Hawkmoon	Read Replies (1) of 33421

Yeah... I think we could see a rally to $60, but it would have to be a very strong market, and I perceive that the "big money" would take such an oppotunity to diversify itself of being so heavily invested in MSFT. I'm not trying to talk out of both sides of my mouth on Mr. Softie, but the recent action has suggested a bit greater weakness than even I expected, so I'm curious whether the stock will even be able to break $60 in a reflex rally. But what I need to see occur is for there to be a stock(s) in the Nasdaq 100 that pick up the slack in any lost valuation by MSFT. And we're just not really seeing that, it would seem (based upon the similarity between the NAS and MSFT chart formations. On the weekly and daily charts however, $48 seems to be a target suggested by the lower arms of the bollinger bands. But another violation below $50 would seem to imply big selling when it penetrates back above that psychological support level. bigcharts.marketwatch.com bigcharts.marketwatch.com Hawk

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