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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (37132)	6/5/2000 3:49:00 PM
From: The Phoenix	Read Replies (3) \| Respond to of 77400

Michael, I'll take a shot at it.... Actually when BGEN broke 50 and closed at 49 that was bad - it broke a triple bottom however when this occurs you have to watch to see if there is follow through or if it's simply a shake out. So, while the TA experts are correct in saying that closing below 50 is bad what is equally (if not more) important is the following day.. if there is follow through selling then it's game over. If it bounces - as BGEN did - that's a shake out pattern and once completed you move higher. BGEN now is on a high pole and should correct down to 56-57 range. 73 is resistance. On your more general comment on TA. TA is only as good as the person using it. It provides an excellent guide or tool for when to buy and when to sell but does not give black and white answers. Shake out patterns are a classic example of when selling on a break causes weak hands to sell. If you like a stock and it has solid fundamentals sometimes it pays to add on these breaks - with a tight stop. You're buy was a thing of beauty. ;) OG