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

To: d. alexander who wrote (25990)	4/4/2000 11:58:00 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68391

Dorothy, It was a quick market today. We got part of the test I was looking for, high P/E stocks with strong momentum testing their 100 EMA's. Due to the severity of the sell off and the rebound, my guess is we oscillate in a wide range for the next 2 weeks or so till earnings season really gets into full swing and we start to get some idea of what the earnings will look like. We should then start to establish a base from which we either rise or fall again in a big way. it is hard to tell at this point. It is interest how sophisticated most market participants all. All my broker's customers had no margin calls. For the most part they all sold to lock in profits as the market fell and most bought the major dip today. One client sold a boat load of CSCO at the open today, just to buy it back a few hours later. I have to agree with Zeev that the COMPX suffered some very severe technical damage that can not be repaired quickly. For the next few weeks trading the bounces up and down will probably yield the most profits. Can you post the updated T's if you get a chance.