Technology Stocks & Market Talk With Don Wolanchuk Message Board

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

SOXL 36.01

-11.1%

Dec 17 4:00 PM EST

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To: rogermci® who wrote (15244)	5/3/2004 10:46:23 AM
From: Kirk ©	Read Replies (1) of 207329

Buying some X here at 27.50 (200 DMA) for a trade. Stock off 33% in 3 weeks. You'd think they were going out of business. X depends on China growing faster than the market can supply steel.... China is raising rates... to slow growth... you have to gamble they do better than Greenspan did in 2000 to slow the economy and not pitch it into a recession. We sure don't need much steel here in the Silicon Valley as there are still plently of empty buildings. Looks like a falling knife to me with no natural resistance until 21 stockcharts.com and that chart shows a target of $16. Natural question for me is "why $27 vs not buying earlier at $30 or waiting for minor resistance at $24???" stockcharts.com[l,a]daclyyay[d20000601,20041231][df][pa24!a16!f][vc60][iUb14!Lc20]&pref=G RSI does say it is prime for a bounce...soon, but it has been lower at all other recent bottoms.... I'd wait for CFM to be on my side....with a turn to the green.... as well as an RSI turn... BWDIK? Just my two cents worth. -g- Kirk

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