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

To: Zeev Hed who wrote (5535)	9/26/2000 3:21:14 PM
From: U.B. Green	Read Replies (1) \| Respond to of 30051

Zeev, are you still in GMST? Regards, Bernie

To: Zeev Hed who wrote (5535)	9/26/2000 9:14:22 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 30051

Hi Zeev: Well in reviewing my charts tonight I see the damage continuing after the brief rally off of the open on Friday. A lot of the stocks are on support now and close to breaking with some room to the next level. If IBM were to warn I can see the domino effect on the DOW impacting the whole market. Scary thought buy IBM was one of the critical straws in 1987. I'm not saying IBM will miss but it is right on support. The DOW looks sick & the S&P 500 is not much better. 1,20 on the S&P is a new sell signal. The Nazdaq is also not too healthy. Now normally we like a follow through day within 5 days of the reversal day (assuming last Friday was reversal). I think we need the reversal tomorrow or the selling will blow through additional supports (future resistances). I started lightening up on the less healthy positions today. I may even sell some of the healty stocks tomorrow since they also sold off in the last hour. The only strength on my watch list was natural gas although LTXX, AHAA & SNDK seemed healthy in the semi area. The b2b's even started to sell off. Since my thought process is it needs to turn by tomorrows close we are in trouble. Need or want is never good positions to be in. When I get in this position I sell and wait for the market to come to me vs me wanting the market to do something. Where is the PPT when you need them? Tim PS - YOur VECO is indicative of the strength in the storage sector, no?