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

To: SBHX who wrote (3978)	8/2/2000 4:08:12 PM
From: Bosco	Respond to of 30051

Hi SbH - don't know. The good news is Naz didn't fall thru 3,651. The bad news is that it looks like a gravestone doji. Is it, Zeev? I am hoping the market is waiting for initial claim [8/3] and unemployment+ payroll [8/4] If they confirm economic cooling, maybe I am still ok <sg>! best, Bosco

To: SBHX who wrote (3978)	8/2/2000 4:31:47 PM
From: Zeev Hed	Respond to of 30051

It is a gravestone doji as Bosco suggested, and the -150 day on the naz might be tomorrow. I actually did well, made a lousy $2 on QLGC and left $7 on the table (G), but avoided being murdered on WSTL (I was thinking of a buy at $21 but did not pull the trigger, what luck, it could go back to $13 or so in a hurry). A lot of break downs. CREE broke the May low and stayed there, SSTI you know the story (SNDK will probably follow tomorrow). HAUP made a new low, as expected, CDTS and SCON are rapidly falling apart at the seams, and the holy one is soaking as many believers it can before it swoons down. I now would not be surprised at all to see $11 actually breached, I am marking it "too dangerous" like I have HAUP, CDTS and SCON recently. MVIS broke $34, even QLTI could not survive the late afternoon onslaught. As for the turnips, they are maintaining their extreme palor. But, if 3640 holds (last Friday's low) till close Monday, we may have another rally here, but I am not getting any "sentiments" signals that the decline is over. VIX and the P/C ratio are dismal, far from what you would see at a bottom. Max negative tick not even -800, that market has no fear nor a wall of worry to climb. And Asia is looming in the background. As for KEM, it is a value play here, but I see no reason to rush, I think it could be available again just under $24 or so. All in all, some times it is better to simply miss the first run up and be in cash. Good luck. Zeev