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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: niceguy767 who wrote (10846)	9/30/2000 8:44:53 AM
From: Monty Lenard	Read Replies (1) \| Respond to of 275872

Well you are right that there is a little high back over there on 2/11 that is also providing support. In addition to the top of the gap and the high you speak of there is a Tweezer Bottom on the weekly chart and a 61.8% Fib Retracement from the 10/17/99 low to the closing high 60 4/30. Fridays candle is a spinning top (almost a Doji Star) which denotes indecision but you could be right that this may be a short term bottom and under normal market conditions I would be a buyer here. If fact....depending on market conditions Monday.... I may make a TRADE here on the long side and see how it acts but will VERY QUICKLY reverse my position if required. As a parting comment .... THERE IS NO SUPPORT IN A BEAR MARKET! Don't mean that as a smart remark...I am very serious about that. In bear markets people see what should be support and start buying there and it will appear to hold but then break it. Look at the support on MSFT that was broken yesterday. Monty