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

To: Pink Minion who wrote (7288)	11/6/2000 2:44:29 PM
From: Zeev Hed	Respond to of 30051

Ex, yes $75 served for quite sometime as a support area for the bu$$ and right now will serve as an overhead resistance. If it breaks it, it could go all the way to $84 and then the next very serious resistance (if $84/$87 is breached) is $98 oe so. Right now, if you like to short, then the $71/$72 is a good shorting area with $76 as a stop loss. Personally, I don't short and I also think that coming events (Comdex and Infineon trial in December) will act to support the stock. Buckling of any of the three dramurai in "contention" (Micron, Infineon and Hyundai)will send the stock beyond the $75 area, IMHO. With Elpida and Samsung signing on the SDRAM/DDR deal, I think that Dramurai buckling likelihood is high, and thus shorting could be dangerous. It is much safer, IMTO, to short AMZN in the $37 to $40 area. Zeev