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Strategies & Market Trends : Shorts waiting to happen
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To: Cadaver who wrote (374)7/31/1996 9:23:00 PM
From: dppl   of 852
 
Hello Cadaver,

I'm following this whole "rally" with interest. The COMP is not out of the woods by a long chalk. I was surprised to see INTC up above 73, to be honest and MSFT too, up at 118+. But I attribute this to a "sucker" rally and a "flight to quality." These stocks have violated some important technicals and they will not go scott free.

My feeling is this: wait until next week and see how they look. And if that isn't enough, wait until options week if there is any doubt.

BTW: in the "second level" stocks like CSCC and PSFT I see quite a bit of weakness now (SHVA is dead as a doornail) which suggets an ongoing deterioration of "high flyers" and many other mid to small cap stocks.

These usually drop off before the bell weathers... Look at the COMS chart. This looks like a triple top now, with a violation and a recovery. Very important not yet confirmed. Could be a death signal for many other high flyers incl. CSCO.

Good luck,

let's hear from you more often!

dppl
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