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Strategies & Market Trends : Playing the QQQQ with Terry and friends.

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To: Gush who wrote (920)	6/20/2005 4:49:35 PM
From: Walkingshadow	Read Replies (2) of 4814

Okay, but I suggest a fairly tight stop.... SBUX formed a reversal candle today. You have a point, since there are minimal technical buy signals yet. Except that notice Williams has just hooked back up today. As you know, this is a very early signal, but it is suggestive: 139.142.147.218 139.142.147.218 It is possible we may see the 200 sma tested: stockcharts.com[w,a]daclyyay[pa54!b200][vc60][iLk14!Lg]&pref=G Today's candle is usually pretty reliable, but the volume today was low. That decreases the reliablity IMHO. All in all, I still can't see that SBUX has a lot of downside left. Reversal has not really happened, but looks imminent to me. I think there is an outside chance that the 200 sma will get tested, and if so, that would be a good place for reversal because that should be pretty solid support, and by that time, SBUX will be very oversold. T

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