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Non-Tech : Technical Analysis a la Edwards and Magee
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To: Judy who wrote (24)3/24/1998 8:36:00 AM
From: Jim Roof  Read Replies (1) of 40
 
DELL looks strong to me. Of course as you and I both know any tech stock is open to suprises. DELL gapped up a few weeks back and that gap is being tested but the last few weeks of decline look more like a controlled distribution of shares which is normal. It also looks as if the last few days have gone sideways - perhaps the corrective move is over?

From a standpoint of any major chart formations I see none other than this little controlled downdraft. I see no strong implications from the chart that signal a reversal. My best guess is that this may be a good time to buy - based on charting alone mind you.

BTW, I was short SYSF at 19 and got screwed pretty good. It was a little H&S top that turned out to be just the left shoulder of a much bigger pattern. SYSF now trades around 4. Oh well.

Jim
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