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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 84.82

+3.0%

Feb 6 9:30 AM EST

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To: Alexander Peskanov who wrote (9226)	9/11/1997 2:24:00 AM
From: Gerald Walls	of 77400

I hesitate to post this because I don't want to be eaten alive. Note that this is just an exercise for me since I bought my CSCO with the long term in mind, but I really want to understand this stuff. My admittedly amature TA eye sees CSCO falling to the 70-5/8 to 71-1/8 gap opened on 7/2-7/3. Today's long black candle closed just a tick off the low and broke both the lower bollinger band and the horizontal support line going back to 8/18 and 8/28. A few days before this we had three reverse hammers (terminology?) in three days before we started down. We gapped down through both the 20 day (bollinger band center) moving average and the 50 day MA. On Balance Volume is ugly. The entire sector is ugly. SI Tech Bulls outnumber Tech Bears by over 5:2. This morning CNBC reported a large uptick (4%) in Bullish sentiment. The 70-5/8 to 71-1/8 gap was at the breakout point. If we don't hold there then the next target would be the 200 MA at about 65, which is also around a previous support level. Comments? Am I reading this right? Is the 71 area or the 65-66 area a good place to hope to pick up more shares? Thanks.

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