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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Brian Malloy who wrote (3910)	5/24/2000 12:32:00 AM
From: Brian Malloy	Read Replies (2) \| Respond to of 6531

Too the thread, Some say technical schemnical, however, though we some use different resistance and support levels some things are near universal in technical land, even though you may be a little +/- minus on it. The gap at 3,500 from Dec was filled in April. However, there is one last gap on the NAZ down around the 2,800 from the end of Oct. A pure technician would say all gaps must be filled before the next leg up can proceed. bigcharts.com It is interesting listening to the "experts" some now calling for 2,500 ... the bearish are the most amusing. they made no money going up and they move their targets going down thus ensuring that they will never buy. The market will eventually turn and they will be left waiting for it to move to their new lower level screaming that things are overvalued the whole way. Well, I have not changed. All along, I have said we needed to be prepared for a move to support at 2,700-2,900 should the NAZ break 3,200 (and this does not mean we will go all the way there). In terms of cycles, if it is going to happen now, at least the first test of those levels we should expect it by the end of May. This is how I'm playing. The put and call game on the NAZ/QQQ continues but there are many stocks that I would love to get near the lows. The IXIC stands at 3,164.55; 14.7% down puts me near the 2,700 level ... 8.4% down puts me near the 2,900 and 10% down puts me in the Gap. Now don't shoot me, but it is my sincere hope that since we are down here anyway, let's just go ahead and get whacked. Because of this, I have set limit orders to buy at 10% below todays close, GTC on several stocks that I want more of such as SDLI, CMRC, JDSU, PMCS, AMCC, ARBA, AMAT, EMC, BVSN, BRCM, TXN, NOK and others. Now, I'm not trying to buy everything I just want to try and capture some shares near the bottom to say that I did it. As allways, know the W and know that you tend to visit levels twice or more. Other things to consider. Should you see the market tanking, puts on the IXIX and QQQ are still a good idea. If you want a stock to short or buy puts against, take a look at INKT (but don't do the put thing on a high volume reversal ... dump the puts and go long the calls). If you see the market heading up take a good look at AOL and EMC, both with + money flow in this nasty market, yet declining in price. On a high volume reversal. AOL jumps 10 points and EMC jumps 20 IMHO. Yes, it is dark out there, but opportunity abounds. When you transpose the charts, bull or bear pattern is all the same. The goal is to make money both now and in the future. Put your own plan together, but have a plan. Make that shopping list of stocks you want and what you will pay for them. If you are unsure and still feel like the proveriabial deer in the headlight then just sit tight and ride it out. FWIW. Regards, PS With special note ref BRCM will nibble at previous April intraday low in the low one-teens.