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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: bobby is sleepless in seattle who wrote (103964)	6/23/2000 12:59:00 PM
From: Jenna	Read Replies (3) \| Respond to of 120523

Long METHA, Buy stop ABSC 61 ...KG looking great here in down market.

To: bobby is sleepless in seattle who wrote (103964)	6/23/2000 1:03:00 PM
From: hotlinktuna	Respond to of 120523

LOL....good bobby! I just added RHAT 32 13/16 on dip from the strong move of late....tuna

To: bobby is sleepless in seattle who wrote (103964)	6/23/2000 1:24:00 PM
From: Connor26	Read Replies (1) \| Respond to of 120523

bobby - from internetstockreport.com - thought of you Some technical comments on the market: We could be forming rising wedges on the Nasdaq and S&P 500. A quote from Edwards & Magee, Technical Analysis of Stock Trends (1948), the primary text on technical patterns: "The Rising Wedge is a quite characteristic pattern for Bear Market Rallies. It is so typical, in fact, that frequent appearance of Wedges at a time when, after an extensive decline, there is some question as to whether a new Bull Trend is in the making, may be taken as evidence that the Primary Trend is still down." The Nasdaq continues to struggle with the 50% retracement level (4087); we turned back at 4073 yesterday and today. On the downside, the Nasdaq's rising wedge appears to have a lower boundary of about 3925. The ISDEX is holding up well, and could be forming either a cup-and-handle or ascending triangle, and is just below major resistance at 800. A break of that level would be a real plus for Net stocks. However, the two most important numbers to watch are 1480 on the S&P 500 and 10,382 on the Dow: the upper and lower boundaries, respectively, of their bearish diamond patterns. A clean break of either number should tell us a lot about the market's direction. The Dow bounced off 10,382 this morning. On the S&P, a close above 1507, the 78.6% retracement level, would be a real plus. A break of the Dow's lower diamond boundary would set up a test of the base of its bearish descending triangle in the 10,200-10,300 range. A break of 10,200 would probably send us to about 9,500 on the Dow (the move predicted by the descending triangle), although a break of the diamond pattern would predict an ultimate downside of 8,400 or lower. A break of 10,775 to the upside would be bullish.