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Strategies & Market Trends : Group Therapy -- Ignore unavailable to you. Want to Upgrade?

To: Alan C. Zezula who wrote (1317)	5/2/2000 9:56:00 PM
From: country boy	Read Replies (3) \| Respond to of 4564

Hey Al and Duane: I'm not the TA in the club, but I don't think a close that drops just below support on very low volume because of no buyers can be considered a true breach of support. On an individual stock basis, I've seen supports breach on low volume the last 5-10 minutes of trading, only to gap up a point or two over the support the next day; don't see why the same couldn't happen to the index. None the less, a catalyst for a turn around is still needed. I hated to see stocks like LSI give up so easily today without any buying interest. All those I watch breached one support level and are hovering just over the next. With an hour to go or so, the Naz was a non-volatile 30 points down---knew it was too good to be true. Still, I fully expected a test of 3800---only, a passing test. I bought mostly June and July calls today after talking with you guys the last few days. Consequently my cash drained quicker (more expensive), but I have more time and don't feel panicky. Still I need to prepare to dump some holdings for a minimal loss if it looks like we're going back to 3600 or lower. Tomorrow will tell the tale, cb