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

To: mishedlo who wrote (6287)	10/13/2000 12:53:01 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

misheldo, I show some resistance on the bu$$ between $62.25 and $65, it may require few attempts to get over. By the way, after shaking in the morning watching RDRT swoon down, now, at $8 it sure looks much nicer. So, there it went, out at $8 and now I got to get back another $1.5. And also just here, back into CREE at 81-7/8 (note the escalator of buys, $79, $80-7/8 and now $81-7/8, what is the meaning? none that I know (g). Zeev

To: mishedlo who wrote (6287)	10/13/2000 1:12:48 PM
From: mishedlo	Read Replies (2) \| Respond to of 30051

Zeev, do your turnips say we bottomed this AM? Will there be a re-test?

To: mishedlo who wrote (6287)	10/13/2000 3:57:17 PM
From: Logain Ablar	Respond to of 30051

m: There is always a retest <gg>. Actually I don't have the stats on that comment but I would bet we have on. Today was a very good close so its a nice reversal day. Money came into the market today while its been leaving for the past 6 weeks. The question is how much do we rally before the retest (and I would expect the retest to be a higher low). I think many of the stocks only retrace a little but INTL, MSFT, IBM can still disappoint. Their charts are still screaming stay away. I guess from a timing perspective we can rally to expirations and then retrace after next week (A lot will depend on the earnings announcments and oil price over the next two weeks). I'd expect funds to be doing the window dressing for the end of the month so we should start to rally after the pull back. Remember I'm still bearish after the recent technical damage and until / unless the damage is repaired ultra caution is required. As the last 3 days have shown the market can turn quickly. We'll I'm with you on SSTI. Lets give it a day or two to get its sea legs back. Tim