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

To: shasta23 who wrote (25906)	4/3/2000 3:38:00 PM
From: j g cordes	Read Replies (1) \| Respond to of 68168

Stephan.. I had a Naz intraday low target in this down cycle at about 4100. MSFT is amplifying the fear factor and can as easily stabilize the tech sector. Remember that 1/3, 1/2, 2/3rd retracements on extreme runups aren't that unusual, though if you haven't seen them before its pretty scary. If we do get a bounce look for 50% retrace of recent losses per individual issue, not racing back to new highs. Some companies don't survive this kind of pounding, especially those where insiders are cashing out of their own business dream while the going is good. Others will do fine.

To: shasta23 who wrote (25906)	4/4/2000 3:30:00 AM
From: Johnny Canuck	Respond to of 68168

Wow, I am not sure where there is strength given the charts below that span almost all key sectors. The break of the SOX below support is critical here too as it has supplied a lot of leadership the last few months. Support at 1051. ********************************** ******************************** LAST UPDATE: 04/03/00 5:52p ET Tour the Bells Hard to believe but the current selloff is only a correction within a major bull market. Of course, many less informed traders now hold positions that are 150 points or more in the hole. This suggests that major overhead supply will limit Nasdaq growth for several months to come. hardrightedge.com Technology stocks fell sharply, as NASDAQ extended its downtrend. Semiconductor stocks are showing signs of weakness, as the SOX index fell below support at 1200. These stocks may have more on the downside. CIEN closed below key support at $120 and extended its downtrend. Recent declines have come on relatively high volume. Next area of support is around $100 and a test of that level is likely in coming sessions. Shares of CPTH are acting weak, as the stock fell below support at $80. Shares fell $11 today on high volume. Shares could be vulnerable to further decline ahead. Chart of ERICY is looking weak, as the stock fell below key support at $89. While the stock closed at its next support, further pullback cannot be ruled out if tech stocks extend their losses. Keep your eyes on shares of KOPN, which are acting weak and could be vulnerable to further decline ahead. Shares fell below their previous low and extended the downtrend. Near-term support is at $60. hardrightedge.com ************************* ************************* Sector rotation into old economy stocks: stockcharts.com ************************* ************************* Breadth of the market as shown through 12 charts. Daily commentary. stockcharts.com ************************ ************************** John Murphy commentary: stockcharts.com