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

To: Steve Lee who wrote (5519)	9/26/2000 8:42:14 AM
From: Casaubon	Respond to of 30051

the stock is sitting on support created 8/23. It fell below the upper boundry of an ascending tringle due to overall market weakness. If the stock doesn't hold this support level, it will likely find it's way back to about $60. Disclaimer: I am long

To: Steve Lee who wrote (5519)	9/26/2000 8:53:10 AM
From: Logain Ablar	Read Replies (1) \| Respond to of 30051

Steve: I steped out of SNDK on Friday. Not so much thinking its a company issue but more a market / sector issue. The Sox @ 881 are right on 880 support and if this breaks I can't see SNDK also not breaking. I believe the company fundamentals but you know markets. There are times when fundamentals don't matter (of course I'm talking about the bubble market fundamentals and valuations). There was a lot of sector technical damage done over the prior two weeks. A lot of good companies where I believe in the fundamentals have been hit in this sector. AHAA, ASYT, CYMI, LTXX, SNDK. As much as I think there is a good opportunity I'm waiting. If sox rallies (I expect it to break 880 this morning) over 880 then these stocks should fare well. Maybe one more flush. Tim