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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Trumptown who wrote (38631)	10/17/2000 11:41:03 PM
From: StockOperator	Read Replies (1) \| Respond to of 57584

Sting-Ray, Thanks, it's nice to be remembered. Regarding this "tech wreck" that's unfolding let me just say that the overall LONG-TERM chart patterns for the tech's look bleak. Consider the generals that I pointed out in my post to Jane - CMGI, RNWK, and AOL. Multi year H&S patterns that are just now resolving to the downside. Because of the sheer size of these patterns my GUESS is the process of finding a bottom and then retesting it could also be a multi-month process. Besides, there are still plenty of big trees standing in the forest that haven't been hit yet. PMCS and BRCM are but two. I hate to sound negative but my analysis is based solely off what I am seeing on the charts. And as I said in my earlier post, chart patterns are never 100%. But if this bottom does not hold on the compx and let's throw in rising oil prices due to instability in the middle east and this melt down continues through the rest of the year you could very easily see stocks like RMBS trading around 20'ish by Jan... PMCS could easily hit the 105 area in Nov... CSCO easily mid to high 30's six weeks... AMZN 8 by Jan. These numbers are not pulled out of a hat. They all fit into the makeup of the longer term patterns for each individual company. I for one hope things don't get this ugly. Could make for a lousy holiday season for a lot of people. Time will tell. Regards, SO