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

To: cellhigh who wrote (5147)	9/16/2000 9:46:18 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

The SOX has very strong support at the 880 area, if we need to go that low to start a rally going again, you may go hungry for a little while. With the break if $60, there is no knowing how low it will go. It is very similar to QCOM breaking $60 few months back, it dipped to $50 and stayed dead money for quite sometime. I trust you have enough "reserves". By the way, if INTC does not recover and make a new high in the next four months or so, you know that next year is going to be a real disaster. What worries me about this decline is that we never got extreme reading in the tick. Zeev