Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.00

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Nov 11 4:00 PM EST

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To: j g cordes who wrote (20699)	5/4/1999 3:45:00 PM
From: Johnny Canuck	Read Replies (1) of 67861

JIm, >>I don't think this run has much more to go.. by weeks end I expect >>to see some deterioration. From a fundamental perspective I agree with you, but the technicals are still pretty mixed. The long bonds are banging at the upper end of its trading range, but the DJUA is signaling lower rates and the retailers and trendy consumer product companies seem to be doing pretty well. I not sure how to call this divergence. Let's see what the employment report does on Friday. On stocks that have QCOM like qualities, I continue to accumulate RMBS every 10 point drop. My general sense is that 42 will be the bottom on this stocks, even on a mild market sell off. The story remains intact. I don't for a minute believe they will have the kind of market penetration some of the analysts are throwing around. But even a 50 percent discount to that rate is a fair amount of revenue. I am sitting on my hands otherwise. My bearish opinion of the market has given me a frozen trigger finger. I still like AMAT for a short term trade, but will probably let it go. The block trading suggests good accumulation going into earnings.

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