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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: Joseph G. who wrote (5567)9/10/1998 1:04:00 PM
From: Thomas M.  Read Replies (1) of 86076
 
IMHO, you're splitting hairs with the numbers, and we are sitting on support, not below it. We tested the ~975 area 4 times: 10/97, 12/97, 1/98, and 1/98 before breaking through on the 5th try. We traded below it twice recently, but both times immediately rallied sharply. The fact that we had our 2 best rallies of this bear market after dipping below this level defines it as support, IMHO.

Don't get me wrong. I think we've been chewing away at this support, and will break it shortly. I think you're right about ~870, and if we violate that intraday (Monday perhaps) I might do some dipstering.

Tom
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