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Technology Stocks : CISCO FOR TECHNICAL TRADERS

CSCO 79.27

-1.2%

3:59 PM EST

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To: Freeflight who wrote (88)	6/3/1999 10:00:00 PM
From: E. Davies	Read Replies (1) of 116

13 day EMA crossed below 50 day EMA ... kiss of death Kiss of death? Dont think so. I agree that this is a rare event and a sign we are at a crossroad. Last time this happened was Sept 98. CSCO took a big dump with the rest of the market three weeks later and was above the Sept crossover in about 6 weeks. But look even earlier: It happened in Dec 97 & Sept 97 with zero consequence, just a normal basing action. The crossover in Feb 97 was a trailing indicator to a selloff that had already begun. So what does this say? Nothing IMO. CSCO & LU have held up through this tech selloff better than any other stocks I follow. If the selloff continues CSCO will see high 90's (CSCO falling might be the signal of the bottom), if no more selling- 120 could be only a couple of weeks away. 200d EMA is still way down @92. Lots of down room left. Eric

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