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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Joseph Stratmann who wrote (3604)	6/27/2000 4:34:00 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

Joe, PHCM closed at 68 down 6 off the low of 67 3/4. With the market hanging by a thread on support levels everywhere - I would have cut the position before the close as it was imminent that 69 1/2 wasn't going to hold. From MITA 3,599 earlier today: ..<On PHCM, a serious technical break today below 74 and intraday low of 68 1/8. Now at 70 1/2 smacks. With internet gurus Mary Meeker and Henry Blodgett walking away from their Bull internet hype hoopla, I would look to cut positions here on one close below 69 1/2. I don't think Fed has anything to do with this. A simple realization that PEG growth models for these internet stocks aren't what their hyped up to be. If you have a profit in this I would sell into strength at 72 - 74 area>... Right now you need a tight support leash on all internet stocks. Best Regards, J.T.