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

To: U.B. Green who wrote (6445)	10/18/2000 6:12:13 PM
From: Zeev Hed	Respond to of 30051

Bernie, a lot of panic today and a lot of "volume/price reversals, but not much continuation, many stocks were running into overhead resistance, like LRCX, AMAT and even NVLS at around $35. So I think that the bottom will be flatter rather then V form, and we may still get few shaky moments. That is why I have a GTC on QLTI for a second serving, just near $50. The same with SSTI which I think has held the old $50 support area. As for the bus, it should not have breached $54, but I will count this a "scratch" since it bounced violently. Nevertheless, the trend there is still negative until we close above $65 and a close under $54 will be very bad. An excellent "channel trading" stock between these two points. You can get few $3/$4 runs per day if you are nimble. Zeev irrevolute.iuma.com