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Strategies & Market Trends : The Millennium Crash

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To: set who wrote (3056)	7/30/1998 2:54:00 PM
From: bobby beara	Read Replies (1) of 5676

Shahar, I bought some poots on soft today. There is several ways to interpret MSFT's chart and I've had a hard time figuring which one it is, but the lackluster performance today gives me some conformation of this theory. The last spike for msft should have been on the rally day 7/27. on a closing basis if you draw a trendline off the 6/15 and the 7/21 low soft bounced off that trendline on 7/27 which is a failure. That could be interpreted as a fifth wave failure and would be a big negative. Of course all of this is subject to interpretation. Today's rally is again internally sucky. The a/d is not so bad but the NH/NL is poo poo! still only a few stocks holding up the front. It's a bear rally IMHO. Good selling opportunity. bb

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