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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: Berney who wrote (6325)	7/19/1999 1:27:00 AM
From: MonsieurGonzo	Read Replies (4) \| Respond to of 11051

TB:" humidity " Berney, I apologize for making such a mis-read of your original post. Obviously I thought it was the spread that you were musing about, not Capatain Jim's clever mechanism for dealing with NAV. After Gersh explained what was going on, your original focus became clear; But it was too late for me to delete my posting to you. I'll try to be more careful in the future. >I've been doing some work with the projected moves of a breakout. Bobby Beara helped me immensely with OEX by bringing to my attention the breakout of the inverted head and shoulders, which projected to 735. I'm going to try to pay more attention to these formations in the future... FWIW my far target for the OEX.X = 757 +/-8 ...when an index/equity is in "uncharted territory", what I do is take the long-term fibonacci high and raise it one more level to estimate the probable extent of the upside movement. So, fitting a fibonacci on the OEX weekly chart from bottom = OEX 470 to top = 690... raising this fibonacci so that the old "top" at ~690 becomes instead the "first retracement level", projects the next "new top" at around the OEX ~757 area. Using the same technique, taking the short-term fibonacci from bottom = OEX ~648 to top = ~690, and raising this so that the OEX 690 top becomes the first fibonacci retracement - reveals that the OEX ~715 +/-2 level is the near target from OEX 690. More useful to us may be the fibonacci levels between OEX 690 and OEX ~757. These magic lines are as follows: OEX ~757 +/-8 area TOP OEX ~740 OEX ~731 OEX ~722 OEX ~715 OEX ~705 OEX ~690 BOTTOM -Steve