Cabletron Systems (CS: NYSE) Message Board

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Technology Stocks : Cabletron Systems (CS: NYSE)

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To: WTSherman who wrote (3559)	5/6/1998 8:12:00 PM
From: Norman Klein	Read Replies (4) of 8358

Sorry to disagree GWM But today CS had a breakout opportunity which it failed to capitalize on. This (possibly) indicates a lack of commitment on the buyers side which would be necessary to break the deadlock (the endless bouncing between points of support and resistance which has occurred over the last several months. Obviously the latest TA signs would be strongly negative. Anytime that you have a failure to capitalize on a breakout opportunity indicates a buying support weakness. In simple words, this rally doesn't have the strength to break us out of this deadlock. So it unfortunately looks like CS will end up drifting back into 13 territory. If you don't happen to like the names assigned to Japanese Candlestick analysis then that is just too bad, but there is really nothing that you can do about it. Maybe you should make your concerns known to the Japanese Embassy, that should give them a good laugh. To learn more about Japanese Candlestick Analysis, read "Candlestick Charting Explained" by Gregory Morris. It is a very sound book which provides a detailed explanation of the fundamentals of candlestick analysis.

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