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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (63601)	1/13/2003 1:16:46 PM
From: The Freep	Read Replies (2) of 209892

Shack -- I know a lot of people are looking at the 16-17th as a turn, and after the close on the 16th we get earnings from MSFT and IBM. What better to create a turn of some sort then those two behemoths? We'll learn a ton, I think, based not only on the numbers they report, but on how the market reacts. To me, a closing on the highs on Thursday would be a likely short entry...but shorting those two puppies is not really a fun concept. Interesting. My ideal for the week was a spike up today then down the rest of today into tomorrow (not far. retracing the wedge JJ posted, for instance. 8500 max low on the dow). A rally on Intel after the close Tuesday, gaining strength after QLGC's earnings on Wed -- just for all the shorters here :-). Then... we're either off to the races or we top out by Friday. And therein lies the crux of the issue -- which will it be? With any luck the action until then will help make it clearer, cuz my guess is that one won't want to be on the wrong side of the next move up or down. the freep

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