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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (61246)	10/22/2000 8:10:05 PM
From: KymarFye	Read Replies (2) \| Respond to of 99985

On BTK: Also took a look at the list. Almost shocking how many of the stocks on that list have, as Casaubon correctly points out, broken down, even while the BTK as a whole remains in an uptrend, around its 50 DMA, well above its 200 DMA, coming off correction after previously reaching (if just barely) a new high. Was down the day money was rotating back into other tech stocks, otherwise... Just for reference, the full list of BTK stocks is AMGN BTGC BGEN CRA CEPH CHIR CORR GENZ GILD HGSI IDPH IMNX MEDI MLNM ORG PDLI VRTX Don't have enough time at just this moment to go over them one by one, but, as I recall from having perused the group, a few have, as they say, rather constructive charts, a few others are all over the place, and a few more look very ill. Fun sector. I seem to recall IDPH looked the best, and CORR was far from a disaster. Made what looked to be a boring short-term trade in BGEN (started back in ancient times before Thursday) that's on the verge of becoming an investment, but have finger on eject button if the turn-up in MACD and the possibility of a trip back to 200-day don't pan out.

To: Galirayo who wrote (61246)	10/23/2000 11:14:47 AM
From: James Strauss	Respond to of 99985

Thanks Ray... In any group of stocks there will be top performers and worst performers... The key is to focus on the top performers and whether or not they can carry the index upward... In the case of the biotechs, stocks like: AGEN BBIOY VGNX GZMO CELG ORCH INCY AELA LJPC TECH are moving fast, to name a few... : > Looks like the NDX bottom is becoming more solid every day... The crossing of the 3460 mark carried it above an intermediate term downsloping trendline... bigcharts.com We have a nice double bottom on the 6 month NDX chart anchored in May and October... bigcharts.com We should start to see the techs outperform the market from now until march... Jim