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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Teflon who wrote (28066)	8/11/1999 12:21:00 PM
From: Stormweaver	Respond to of 74651

I agree; based on 200 day moving average and general strength of techs. Also RSI is at 38 (approaching 30) which is starting to indicate oversold. Holding in there James

To: Teflon who wrote (28066)	8/11/1999 1:31:00 PM
From: larry	Read Replies (2) \| Respond to of 74651

T, MSFT will very likely to penetrate 77-78 level on an intraday basis. That coupled with a sharp reversal will mark the near term bottom for the market. Same goes with CSCO. A second low at 56 5/16 yesterday broke the previous low at 58 3/8 badly which is a certain indication that 55 is on its way. Long term CSCO is a great buy. but a gap up of 3 1/2 this morning is ridiculous. It was a picty that it did not have a single upside tick until it dipped to 61 1/2. Did buy put and am waiting for The Fidelity et al. to fight against 60 either today or tomorrow afternoon. Market is crazy to rally when the bad PPI number is looming around the corner. I was short heavily at the open this morning, covered, and is accumulating short position as the DOW keeps sneaking back to +55 points. Tomorrow is sure to be a bad day. larry