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Strategies & Market Trends : Charts With An Attitude; Trading In & Out

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To: Dave H who wrote (4374)	12/17/1997 10:55:00 PM
From: Ocote	of 4701

Dave, Re MRK and INTC MRK's down volume remained small during the breakdown around OCT 28, when kicked in with large volume, breaking the neckline resistance easily. It looks a lot different to me than does CPQ now. INTC looks to be sitting right at the neckline, closing at its daily low. One idea that seemed to come out of the seminar(tell me if I'm wrong) is that if a point of support is long standing with many points defining it, it will likely take more than one attempt to break it. This would suggest to me no to hurry a short on INTC if it breaks below 69. It would likely retest once or twice. Hopefully there would be some clue in how this retest is done. I'd be interested in your thoughts. I am trying to get a "feel" for how these stocks behave. Ocote

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