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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.53

+0.2%

Dec 2 4:00 PM EST

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To: Clint E. who wrote (16153)	5/22/1998 9:15:00 PM
From: j g cordes	Read Replies (1) of 68565

Clint, have to go to Phoenix soon myself, Scottsdale_ some place called the Phonecian? Glad you got some time to think about other things. There's selling on good news and bad news in techs.. take a look at SMOD, PLAB, etc. Just time to lighten up. The uncertainty statements or lack of conviction in conference calls is scaring money away. In fact they're selling on the news because that's when the price is most vulnerable in the confusion. You can see the retracements have been sizeable and fast, very professional if you know what I mean... take a look at CYMI. Down to 16 3/4 from a 29 spike only a month ago... and its got stable business to great news coming in a year. Look at ADI.. So I think we're trending down with patches of tradable bounces for a month or so until the warnings season is done and worries about a Fed increase fail as Asia works its way through. I'm looking at late June into July for agressive buying. Until then pot shots and new idea companies... momentum wherever. Regarding your suggestion of a new site that's up to you, I'll certainly contribute, but this feels like home and it already has a large number of visitors. Lets just build activity here a little more for the time being. Have to go out to a second party... I'll check in over the weekend after looking at where things might go. Jim

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