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Non-Tech : MB TRADING

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To: Gary Korn who wrote (1057)	9/7/1998 12:26:00 PM
From: TraderAlan	Read Replies (2) of 7382

Gary, 79 1/4 to 81 1/4 is a key swing area for INTC. 79 1/4 is it's 200 day MA and 81 1/4 the 50 day. Also INTC (and most big stocks) play off of whole number support/resistance. If it opens above the 200 day, watch to see how that support price holds. Same with 80. Stocks can rarely climb successfully both the 200 day and 50 day in one bar. On trend days, INTC also loves a short, quick selloff after a gap open followed by taking out the gap high. If the trend is strong enough, the thrusts will be supported by a real short MA on a 5-min chart, like a 5 or 6 bar. The post-Greenspan market price action this week suggests a fairly typical 1-2-3 counter-trend move off the low. Often the "3" thrust will be equal in size to the "1". This is all still a bear move with all indices below their 200 day MAs. Alan

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