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

To: MonsieurGonzo who wrote (6844)	9/23/1999 4:47:00 AM
From: Berney	Respond to of 11051

MG, I dunno know LLY has always baffled me. It just seems to move from point to point without much regard for Mr. Market or my TA. Thus far in my analysis, about 40% of the Big Boyz have broken their long-term bullish trend. LLY is no exception. The monthly up trend line from 1994 was broken in April. I would agree that $77 represents a solid cap, but all I can tell is the eventual base of this presumed consolidation pattern is somewhere in the low $60's. However, as S showed a couple of weeks ago, and GT and KO (among others) showed in the last week, the horizontal supports can fail. In fact, the trend line supports are not doing much better, as UTX and FNM (simply as examples) just demonstrated. I did OK yesterday, but as I told TM, I felt like a deer in the head lights most of the day. Thus, I have to conclude that the market is just not condusive to my normal style of position trading, and I'm going to play the short-term game until I feel a change. OTOH we have stocks such as TM's suggestion of MEDI that are trading above their long-term upper weekly trend line. These are tough for me as I know that gravity will eventually resume control. All in all, it continues to be a tough Market environment. It reminds me of a bank of elevators, just going up and down, never quite getting back to the top floor, and one after another becoming unusable. I guess all the bullishness on the threads tonight is making me nervous. Let's see if AOL can make it through this DTL to justify this party mentality. Just A View from the Swamp TB