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

To: Steve Lee who wrote (6680)	10/24/2000 2:09:37 PM
From: Logain Ablar	Respond to of 30051

Steve: RE: CHKP - its a higher high and on a fundamental basis its gotten ahead of itself (which leader that continues to exceed expectations hasn't in this market) and its in Israel so ME tensions impact it. Some history. I sold it last year @ 60 (20 split adjusted) when the market was doing poorly & never jumped back when the market turned. Look @ the chart and you'll see in the Aug - early Oct period while the market was off chkp was basing with higher highs and lows. CHKP had good earnings and good forward guidance last year and they just did the same thing again (4th qtr is always their strongest & management gives conservative guidance). So I wouldn't short it unless it breaks some support levels vs. just going by a double top. The ME environment has changed.