Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: horsegirl48 who wrote (3086)	7/27/2000 7:44:09 AM
From: allen menglin chen	Respond to of 13572

MarketGate for July 27 Date: Wed, 26 Jul 2000 20:34:07 -0700 The tape was heavy again yesterday, but it also appeared that traders were willing to place bets on selected issues that appeared technically oversold. Though I'm far from euphoric about the market at this time, I can't let my guard down either regarding the possibility of sharp rallies unfolding just when you think the only direction the market can go is down. The Nasdaq 100 (QQQ) Index found some temporary support in the low 90s (93.25). However, volume and internal readings remain negative and lower 'technical projections' have been formed. As I stated yesterday, at best all we can expect is a technical rally. There were some signs yesterday that such a rally may have already begun. For example, Intel (INTC) found support in the 136-137 area and there is an upcoming split. Some bio-tech stocks such as CYTO and NGEN were showing some bottoming signs. And, other 'market stocks' such as my favorite IBIS were showing resiliency. Elsewhere, Treasury bonds have failed to muster the upside momentum needed to breakout above their recent double-top, hardly surprising when Alan Greenspan is sitting almost daily in front of television cameras. That breakout would have provided some added impetus for stocks and is nowhere in sight. Gold shares bounced a bit a yesterday after posting a two-year low the day prior. I'm always interested in markets posted to news lows as a possible setup for an upside reversal. Keeping a watchful eye here. Mark Leibovit vrsurvey.com