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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: ok1day who wrote (52554)	8/5/1999 7:35:00 PM
From: margin_man	Respond to of 90042

SBAC - nice closing Candle today. Watch for a move tomorrow. Big block was traded right before the close on the ask.

To: ok1day who wrote (52554)	8/5/1999 8:35:00 PM
From: stan s.	Read Replies (3) \| Respond to of 90042

Hi ok1day. Here's a quick view of the Nasdaq, where the techs dominate. geocities.com You can see the Naz pretty much probed both the weaker straight line support (green line) as well as the stronger trendline support (blue line) earlier today. So far it's held...I'd be happy with a hold of the blue line on a closing basis...that would indicate all is well or at least okay. The white line represents a general dip of 15%...that's not meant to be a line of support per se but rather a traditional "marking" of a pretty decent correction. It still could test that area...and remember last summer's dip was harsher than this one as been thus far...so if we hold anywhere in this area, we should be grateful...but it's way too early to say if the carnage is over, I mean way too early. Today was a decent day but less so than it might appear at first glance. Advancers still trailed decliners and much of the gain today was internet related...so the techs still should be watched with a very wary eye but it's a start...maybe. Sorry I just don't have time to go ino any detail but I thought I'd post this much for what it's worth. There is a lot to look at including the other exchanges etc...but I simply cannot right now. I did notice CS closed the gap a few days ago and is holding support...by the skin of it's teeth...good luck. Yeah it's been a long trip, should be home next week. Say hi to Jeff, Kathy, HandsOn etc....hope all is going well. Stan