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To: Steven R. Michaud who wrote (18433)4/16/2000 11:51:00 AM
From: Hawkmoon  Respond to of 28311
 
why...would we need quite a bit of volume...?

Steve, the general view is that once a level of major support is broken, that all of those people who bought the stock at those points will now be underwater and looking for an exit.

That is why it is generally percieved that additional volume is required to turn over enough shares that demand outweighs supply.

At least that is how it has been explained to me... and it makes logical sense.

Of course, if earnings are a blow-out then we should have little trouble penetrating back up to $70/share where we will face some major problems.

Regards,

Ron




To: Steven R. Michaud who wrote (18433)4/16/2000 11:19:00 PM
From: MJ  Respond to of 28311
 
Is there another gap to be filled? There is the technical theory that all gaps must be filled before a stock continues its rise.

Re. the general market---there is no mercy in this market. This is an election year which adds to the problem----so if we rally before election day---then who benefits, Dems or Repubs. On the other hand, if we don't rally before election then which party will the public perceive to be the one to lead us out of the demise.

mj(not mark johnson)