Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 691.88

-0.3%

Jan 30 4:00 PM EST

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To: Caroline who wrote (3564)	4/18/1999 5:05:00 PM
From: Mike Learner	Read Replies (1) of 39683

CB, I do not find nice support for SUNW!! timely.com SUNW has broken its uptrend move. 40 MA (57.47) and 50 MA (55.95) both have broken with large volumes. It is hard to say what's SUNW next move be, up or down? However, the probability of going down revisiting its 200 MA appears to be higher, IMO. It seems that Tech is in danger. Marketwise, we are going through rotation which money out-flows fast from one sector and in-flows to another sector fast. While, money chases money, the up moves of some of these sectors are not justified. Therefore, overall, it may be observed as we are getting close to the top which brings huge uncertainty back to the market with much higher degree of risk. Holding positions are becoming very risky now, IMO. BWDIK (But What Do I Know)!!!! Mike

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