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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (69969)	3/29/2003 5:17:22 PM
From: Shack	Read Replies (1) of 209892

Firstly I agree about the importance of the 15-16 area on RIMM. But it is consolidating right below it and has knocked on that door 3 times since last July, I don't think it will hold on another test and then its air until the low 20's. Secondly the wedge breakout portends a move to at least the $16 area if you buy into 'wedge theory'. Thirdly I already have expressed my short-term bullishness on WDC last week but what do you see (as you said) in the long-term charts that make it so appealing? To me it looks to be breaking up from a triangle on the dailies so I'm bullish short-term but it would be a terminal move no? Actually it looks like a near perfect 5-3-5 off the 2001 lows to me which should complete around $10-$11. Fourthly in regards to short interest, I look at % of float of course (14% for RIMM...quite high) BUT I care more about the ratio of short shares to the daily volume and RIMM's is over 9!! Other than AMZN I haven't found a higher figure. And yes WDC is fairly high too at 6+

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