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Technology Stocks : Stock Swap
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To: Andrew Vance who wrote (16149)2/2/1999 1:55:00 PM
From: Trader X  Read Replies (2) of 17305
 
I don't view any of today's pullbacks as "buying opportunities".

I may be wrong-- I certainly have been before -- but today's action smells strongly like the beginning of a longer correction.

For instance, a glance of the CYMI chart appears as if the stock will move to $20 for a while to form a new base for the next uptrend. I would assume that many others in this sector should do the same thing.

I don't see any reason to rush into the fray today, and I intend to wait it out for a few days to see which way the dust settles. My observation has been that new market trends are established on Tuesdays, so this action today would be short-term bearish, perhaps longer term as well.

and that's my special intra-day commentary. feel free to disagree.
tx
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