Wal-Mart Message Board - Msg: 5688667

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Non-Tech : Wal-Mart

WMT 103.51

+1.1%

Nov 11 3:59 PM EST

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To: Market Tracker who wrote (453)	9/7/1998 7:31:00 PM
From: Toby Zidle	Read Replies (1) of 1166

MT, I didn't think you were rambling. You were setting a scenario in which one (very strong) retailer appears to be battling a deteriorating world economy. It's a very sobering thought, yet WMT has not been knocked out for the count. I looked back at the WMT chart and whether there have been 7 occasions (days) or 4 or 5 independent tests of a $57 base from which WMT hs bounced back doesn't much matter. Of significance is the the support has held. Now if you look at a DJ INDU chart, you can see strong support of 7600 going back to July 1997, excepting the period of Oct/Nov 1997. In fact with a good week this week, we'd have a very decent double bottom test of the DJIA. Interpretation? I could lean toward optimism. But if I'm wrong, where does a technical analyst sell? Looks like an intraday sale could be very dangerous. Would a close at or under $55 be a big red light?

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