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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: GTC Trader who wrote (3397)	7/20/2000 9:12:17 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

BA and IBM are OK here. I was recommending BA in the low $30, it has made more than 50$ of the move I anticipated, but there is still a good $15 in it. IBM will be a necessary part of a recovery of the Dow to new highs later this year, it has to take out the $125, so, if you can get it again at $110, fine, if not you may have to chase it. The $105/$110 was a good buying area with support at $100 or so. Here at $117, it is tough to select a good SL. GM charts looks stinky and may become worse before it gets better. Fear of a recession will weigh on it for a little longer. If it breaks above about $68 (but you'll need to study this chart) then it could start a healing. I would wait for the "absence of a new low" for at least three months before getting into GM. I rarely play it however, so you may want to seek some other people's advice. Zeev