Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (24585)	4/25/2000 10:34:00 AM
From: Rande Is	Read Replies (3) \| Respond to of 57584

Sold most of my bouncers. . .and swing trades into this strength. . .playing things really tight here. I am still not comfortable enough to think longer term with techs. . . barely got out of EXDS and PHCM which plunged after open. Sold my AETH. . .but holding chip stocks. . .and half my GLW. . . disappointed they didn't announce a 2-for-1. . . then again, with earnings like that. . .it would be better to wait for the stock to sell off before announcing any splits. Didn't play the biotechs this time around. Added JDSU, IBM, T, OMKT, MMPT, QUESTION: Does this rally have legs? Rande Is

To: Rande Is who wrote (24585)	4/25/2000 11:04:00 AM
From: Kevin Shea	Read Replies (4) \| Respond to of 57584

I don't think it will be a fast rise out of the ashes.. there will likely be a test of the downward trendline...a weak rally would stop around 3750 or so, a strong rally would get just over 4000... (the daily breakaway gap at the bottom is somewhat telling, when combined the way it is, it very often signals a bottom)... I'd say that we will play within the 3500 - 4000 range for the next 5-6 days awaiting the slow turn of the daily MA Long term it may be a different story... the fibonacci retracement from the move from late 1998 suggests that we have gone through a 50% retracement...any additional trauma could sent us to 2800 or so ( the next level( 66% or so) any overall recovery looks to require 7 weeks (IMO).... but right here is also sitting on a very long term support level...so we likely will sit here and test for a while.. Just my opinion.