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To: lindelgs who wrote (8368)3/20/2000 7:24:00 PM
From: marginmike  Respond to of 35685
 
Jim if there is not enough to go arround something will give, right now it looks like Tech. There is not enough $$$ to buy all the paper. DO not forget there are many conserviive IPO's and spinoffs like COMS and Agilent as well as crazy speculative crap. the money is taken from peter to pay paul. Eventially the music stops and the bottom falls out. October will be an ineresting month this year.



To: lindelgs who wrote (8368)3/20/2000 11:01:00 PM
From: Jim Willie CB  Read Replies (2) | Respond to of 35685
 
TA on TERN: a severe correction that is ending

what a selloff! wow! from 275 to 175
it finally filled the 170-210 gap
kinda makes one a believer in the inevitability of gapfilling

it careened thru 18MA at 230
it careened thru 30MA at 200
it now is negotiating with 50day MA at 175
prior support at 160 should be felt from back in February

money flow is actually not too bad right now
it exceeds the flow from early Feb

relative strenk is stinkypoo, declining each day, worsening

daily stochastics are none better
not even a sign of crossover (improving closes)

I suspected this story was a pumpydumpy back in Feb
had a double top of 275
they may be planting seeds for sCDMA static free cable operations
but I question where the profits will come from when they are giving away so much
dont want a debate of profits
must have seeded a profitable engine in future years so sure

but for now, it is having trouble finding its feet
the 50MA needs to work its mojo
the 160 support must work its power also
(e.g. anyone who sold prior to the massive Feb run from 160 to 275 now has a second chance to climb aboard)

I suspect the downside is NOT over
I suspect the 150-160 level will succeed in supporting the fall
the decline has been so momentous that it is likely to overshoot support

look for an intraday bigass bargain perhaps under 150
but I think 150-160 will hold
then comes the resumption, with slower growth rate
/ Jim