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To: country boy who wrote (1324)	5/3/2000 1:23:00 PM
From: E. Graphs	Respond to of 4564

Country Boy, Looks bad, doesn't it? I was surprised to see the Nasdaq fall below the gap at ~3769. Now there is another island reversal at that point.....only this one reverses us downward. Although, I'm still not sure how much emphasis to put on these s/t indications. siliconinvestor.com Just getting in to catch up here. Still need to check more charts. Have been thankful for my energy stocks lately. E

To: country boy who wrote (1324)	5/3/2000 4:59:00 PM
From: E. Graphs	Respond to of 4564

Country Boy, What do you think of that Nasdaq close? E

To: country boy who wrote (1324)	5/3/2000 8:17:00 PM
From: E. Graphs	Read Replies (1) \| Respond to of 4564

CB, Just double-checking the Nasdaq chart and it looks like it might be building a wedge. If so, this is the perfect formation for a strained market. siliconinvestor.com Still early to call. It's just best to be aware of rising wedges since they can, and often do eventually, collapse. Some reasons I think Nasdaq might be forming a wedge: 1) A lot of people lost a lot of money in techs and there are still many who would like to get out even or with less of a loss, as Duane pointed out earlier. 2) There are still loads of traders who think 10 to 20 points a day is normal for tech gains, but they are taking them a lot sooner than they did before the plunge from Naz 5000. 3) Summer is coming up, a slow time for tech stocks, so even if CNBC pumps like crazy, we all know the old saying "Sell in May and go away!" leaving the unlucky few holding the bag. 4) Number 3 is practically traditional. 5) Techs usually don't go anywhere in early summer and then sell off again in July..... about the middle of the month. 6) Not everybody is sick of hearing tech this and tech that.....yet. 7) I still have money left that Mr. market wants. 8) Mr. market is evil. 9) Celery is goodness......<chomp chomp chomp> 10)jmho E