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Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: Cola Can who wrote (314)	10/17/1999 11:52:00 PM
From: sean sanders	Read Replies (1) \| Respond to of 967

CC, I normally would like the opportunity to short ETN, but seeing as how it broke the neckline with low volume this makes me hesitate. I would think that there would be decent volume when breaking that strong of a neckline; makes me think there were jsut sellers and no buyers; but if the buyers come in it will push it right back up. One I am looking at to play in the near future is CMB The chart looks decent enough. I would have to say on 10/13 we broke through a neckline and friday we kicked more volume into it and headed lower. Normally I wouldnt consider this play seeing how I may have missed a significant amount of the move already. I am thinking about buying some puts on this one the options look cheep (normally they are if a stock has been stuck in a range for awhile. And I would expect it to drop significantly if the market has a rapid decline. It depends on what I see the market doing on what I may do; ie if I think the market will fall big time I will just buy in; but if it just makes a spinning top (indecision); I wouldn't doubt that CMB might head back to the neckline. Sean