Bill, I really think your time is upon us, and I've even reconsidered your $30 target.
Some thoughts:
Intel seems verging on further breakdown, and Yahoo trading volume is declining.
I just found out tonight that Siebel, which seems to have broken down today, is one of Vinick's biggest positions. If he's leveraged, he could be forced from other positions as a result.
Drawing a line under the September and October bottoms in Yahoo, extends steeply into the twenties. It would have to have a Cymer-type decline, and the same dynamics aren't there, but valuation fears could be just as powerful.
In any event, a test of the October low seems reasonable to me..in the vicinity of the log-chart trend support line from January (40) which has been successfully tested four times during the advance, and the 200-day moving average (35).
Good luck. If Intel holds, or the general market improves, then a squeeze is still a possibility, but I think it's becoming increasingly unlikely.
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