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Strategies & Market Trends : Classic TA Workplace

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To: bcrafty who wrote (65761)	2/8/2003 7:12:44 PM
From: John Madarasz	Read Replies (3) of 209892

that's a 6 month daily chart...so what? theres a gap on the weekly back to 1998 at $8...and a huge H/S that measures to the gap at 8 for that matter it's in a H/S with a right shoulder put in on lower volume that measures to 15 on the daily it GAPPED over a downsloping 200dma which means it's in a bear downtrend until proven otherwise, and it did it on HUGE volume that probably is showing a pump. it's anyone's guess now but i would consider shorting the hell out of that thing at 35...if we get some kind of big mkt move, try agn at 40 and finally at the overhead GAP @ 45 either way, i sincerely DOUBT that thing won't fill it's GAP on the WEEKLY at $8. If not trading...that thing will retrace all it's mania move like all the others. the fact that i'm so bearish on stuff like that probably is a great signal that it's close to a bottom <ng> ....but...eventually... anyone who is convinced that those kinds of stocks won't retrace most, if not all, of thier gains from 1998 sometime in the next 5 -10 years are totally delusional

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