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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Area51 who wrote (793)10/12/1999 3:34:00 PM
From: J.T.  Respond to of 19219
 
Area51, I would not like to attempt to catch a falling knife until $111 is clear of this latest third test. If $111 is broken what is to stop it from $109 intraday? And if the market doesn't like INTC and MOT earnings after the bell or forward looking earnings, 100 IBM is not out of question intraday.

IBM is an easy play long even if you give up 4 points tomorrow morning with positive earnings after the bell from INTC and MOT.

Good Luck if you take the plunge long.

Best Regards, J.T.



To: Area51 who wrote (793)10/12/1999 5:14:00 PM
From: J.T.  Read Replies (1) | Respond to of 19219
 
Area51, $111 is sitting right above its 200 MA of $109 area. This was the third time IBM tested $111. It failed. With INTC down $5 now in after market you can see why it pays to wait to go long and not get cut up with the knife. Now we are going to see how low is low for IBM tomorrow. Tomorrow is going to be ugly.

My DOW target is DOW 9,770 intraday low as I have posted several times in the past.

I hope you did not go long IBM.

Best Regards, J.T.


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