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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (27472)	7/26/2000 10:54:49 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68364

Trading on financials and retailers show no conviction on the direction of ECI. Attempt of COMPX to rally going into the close a positive. Profit taking in last hour in advanced of ECI blurring the picture. DOW dropped below critical 10,700 level with conviction the last 2 days, expect lots of downward pressure now that earnings season is over. Broadbased sell off in all sectors indicates lack of leadership as trader lock in profits. Money appears to still be flowing into stock with strong stores like ADCT and AMCC. Narrowest of the advance will be a problem when teh sentiment turns all negative though as the market will fall dramatically on the back on only a few stocks. Risk level is currently very high. Looking at my portfolio the pullback in recent days have been very dramatic. Most trader will not ride this down again like in March/April. I expect serious profit taking in the days ahead ,with some dead cat bounces. Wed Jul 26 10:54pm ET - U.S. Markets Closed. Dow 10516.48 -183.49 (-1.71%) Nasdaq 3987.72 -41.85 (-1.04%) S&P 500 1452.42 -22.05 (-1.50%) NYSE Volume 1,235,870,000 Nasdaq Volume 1,755,369,000 30-Yr Bond 5.810% +0.008 RETAIL 8 +1.4% Edit Delete Compare SOFTWARE1 13 +0.4% Edit Delete Compare DSL 6 -6.8% Edit Delete Compare DWDM 15 -1.1% Edit Delete Compare Financials1 7 -2.6% Edit Delete Compare Carriers1 6 -4.2% Edit Delete Compare Telecom Construction1 3 +1.6% Edit Delete Compare networkers1 6 -1.8% Edit Delete Compare Contract Manufacturers 5 -3.2% Edit Delete Compare Telecom Equipment 18 -0.2% Edit Delete Compare Tier 2, D-WDM 15 -1.4% Edit Delete Compare Broadband Cable 1 8 -3.6% Edit Delete Compare Harry's current watchlist 32 -1.3% Edit Delete Compare DOW 10 -0.4% Edit Delete Compare XML 15 -3.2% Edit Delete Compare Internet Security 20 -2.8% Edit Delete Compare Supercoductors 5 -3.7% Edit Delete Compare Bull Sector-optical 84 -1.7% Edit Delete Compare Satellite Stocks1 3 -0.1% Edit Delete Compare Strong Stocks March 16 Correction 22 -1.2% Edit Delete Compare Biotechs 9 -1.4% Edit Delete Compare CHIP EQUIPMENT 13 -3.2% Edit Delete Compare CHIPS1 18 -4.3% Edit Delete Compare MEMS 2 -0.3% Edit Delete Compare April 11 strong stocks1 16 -1.8% Edit Delete Compare Day Traders 12 -1.4% Edit Delete Compare Genomics 9 +1.5% Edit Delete Compare Incubators 8 +0.1% Edit Delete Compare Internet Sector 12 -3.4% Edit Delete Compare Flat Panel Displays 3 -4.7% Edit Delete Compare