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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Guy Gordon who wrote (6248)	2/13/2000 2:33:00 PM
From: Rick Escher	Read Replies (2) \| Respond to of 24042

No, I don't see your descending triangle. You see that low of 181 on 1/31/00? It does not fall within your triangle. Don't you feel that's a valid point on the chart? If you include it, the triangle becomes a pennant. OTOH, if you are going to ignore that point, why not ignore others? Where do we stop? These are some of the reasons I distrust TA. It's just too easy to fudge. Hi Guy, Thanks for checking out my chart. I appreciate the feedback. I choose to ignore the low on 1/31/00 because it was not an open or close price. I relied instead on the support line around $190. Maybe this is wrong I just don't know and I have not be able to find any documentation that says conclusively one way or the other. Sometimes I see charts posted that adhere strictly to the price movements, while other times I see charts taking some liberties. So which way will the stock move? I really don't know. But my feeling is that there is too much interest in fiber optics for JDSU to drop too far. Too many funds have been buying in. For example, IBD lists what stocks top-ranked funds are buying, and JDSU is always mentioned. And we know of one source of selling, and that has dried up. I basically agree. However, don't you think that it's possible that the P/E's are so high now that other factors could be at play beyond the basic fundamentals? Hence, the technicals could be forecasting a correction. So my guess is that JDSU will climb higher after exiting this pattern -- unless the entire market tanks. Let's hope this is not what's in the cards. Thanks again. Rick