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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: booters who wrote (9090)	6/22/2000 7:54:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

boots, The larger pattern sets up more warnings. Gap over 82 and the 200-day MA close by. MSFT completed a 100 % retracement of its last decline with the rally. That often sets up a reversal. The 20-day Bollinger Band had price out the top band all day today. I sold my 1-year MSFT position yesterday at 81 3/4. A stinking 3 pt profit after 12 months of hell. Now I can hate Billy like everybody else <g>. Alan

To: booters who wrote (9090)	6/23/2000 9:11:00 AM
From: Redmond Quain	Read Replies (1) \| Respond to of 18137

Each days action in a stock like MSFT has several different stories seen in different time frames as Trader Allan has pointed out. One seen in the 15 min. bar time frame with the use of candlesticks (as shown in Trader Allans charts) is how on Thurs. the previous day's High was a challenge that failed on the 200pm bar after a first attempt on the 1000am bar. This 200pm try was the third try that day perhaps like the third try to surface by the drowning man. Not to say that MSFT is about to drown (last observation added on my lawyer's advice!) only that it did in a 15 min time frame. Also, along the line of Boot's analysis, an ominous sign perhaps was the failure early in the day to hold at the 5/8 level (even on a candle body basis) the afternoon swing of the day before. BTW, I would like to have sent as an attachment the 15 min chart discussed. I tried going to upper left of screen (after hitting response): file--send page-- but then end up with the requirement to give an email address? Redmond