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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: dppl who wrote (25163)	2/12/2000 9:01:00 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68092

Hi Thomas, >>Also, we should be getting near a short term bottom on the >>DOW - a few points from here, we should reverse Monday or >>Tuesday IMO. I almost got a buy signal on my SP500 system going into the close on Friday. The only thing that prevented it was the recovery in the index in the last 1/2 hour. The recovery shows the resilience of the market though as it indicates traders were actually willing to hold over the weekend. A down open will complete the signal. >>I think anything off the wall in the tech/semi sector is >>fair game now - anything trying to make a breakout from a >>"W" will probably fail (you have to use common sense and >>see if the stories are hype or real). I think it is a continuation of the theme since Oct, the strong get stronger the weak swirl down the drain. It looks like the 11 billion in net money inflows into the stock mutual funds are supporting the market. At this point it looks like we will trade with an upside bias till the end of the quarter when mutual fund manager have to report their results, then the market will tank as the manager are not under any pressure to invest in anything as the next report will be 3 months off. The economic numbers next week, plus the Greenspan testimony should add some volatility to the market. FFIV and HLIT looks go for the bounce. FFIV upgraded with a $150 target. HLIT because there is a broadband media conference later this month. The SOX stock should get a boost from the anticipated AMAT earnings. MRVC reports Monday after the close. I expect good forward guidance due to the announce factory expansion of Optical Access. Under better market conditions, the number the report would not matter. ADCT still looks good. NT and LU reported strong demand. Upgraded with a $100 target. A split is about to be completed. This is not a play for the bounce though as it is not receiving much trader interest. I expect that to change after earnings. What are you considering shorting for the move back down after the bounce?