Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 61.79

-12.3%

Jan 30 4:00 PM EST

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To: da_cheif™ who wrote (9894)	7/12/2003 10:39:46 PM
From: Runomo™	Read Replies (2) of 208176

The Naz story last week as far as I am concerned can be summed up simply as da tale of da two gaps.... A Monday morning breakaway gap on above average volume from the five week lateral consolidation which never got filled. A follow through on Tuesday and Wednesday on progressively higher volume confirmed the breakout...Thursday's low volume gap down open however raised the bears hopes finally with the promise of an island reversal...however not only was the volume low and below average, but the gap was immediately filled on Friday as well thus strongly suggesting it was nothing more than a garden variety common gap. As I see it, the technical picture continues to improve...russell is on the verge of taking out it's bear market downtrend line this coming week....note that it has already broken out of a classic inverted H&S base with technical objective targeting the low 500 area...da Sox put a nice doji hammer reversal candle on Friday and on the weekly larger picture looks like the handle of a weekly cup from last December is almost complete...vix looks ready to go sub 20 next week and dat incredible Value line is just a breath away from hitting all time highs...I think there is a good shot it can happen as early as next week and I wouldn't be surprised with a 200 plus Naz rally either...imho, Mo

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