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To: Paul Reuben who wrote (318)	11/22/2000 7:47:28 PM
From: The Phoenix	Respond to of 405

Yep... As I have been saying on "the other thread" the capex issue has been way overblown and folks are running for the doors based upon anaylst and fund manager hype and fear. I suspect that things will normalize long term as the pendelum has swung to the bearish side for now. The truth lies somewhere in the middle - between 5000 and 2500 IMO. So, while there are those that may point to short term weakness as an indicator that "they were right" the truth as I said is that the softness is overblown. This of course shouldn't be read to mean that the selling isn't over because much of it is based upon sentiment rather than reality. Something will need to happen to change sentiment.... and well..... it'll be interesting to see what that something will be. OG

To: Paul Reuben who wrote (318)	11/22/2000 7:48:56 PM
From: The Phoenix	Read Replies (1) \| Respond to of 405

I should add that the P&F chart is still intact... although for a moment there I thought we were going to resolve the triangle pattern to the bull side. Now we rest in dangerous territory IMO. We need to watch support carefully... 73 73 72 72 71 71 70 -------* ------X --* ------------------------------------------------------70 - 69 X X * X O 9 * 69 68 X O X O * X O X O * 68 67 ---X O X O --* X O X O --* ------------------------------------------------67 - 66 X O O X X O X O * 66 65 ---X ----O X O X O X O ------* --------------------------------------------65 - 64 O X * O X O X O X O * 64 63 O X * O X 8 X O X O X X * 63 62 O * O O X O O X O X O * 62 61 * O X * O X O X O * 61 60 -------------O X * --O X O X O --------* --* ------------------------------60 - 59 O * O X O O X X * X * 59 58 * O O X O X O X O * 58 57 O X O X O X O * X 57 56 O X A X O X X O X O Med56 55 -----------------------------O --O --O X O X O ----B O --------------------55 - 54 O X O X O X X O X X 54 53 O X O X O X O X O X O X O 53 52 O X O X O X O X O X O X O 52 51 O X O X O X O X O X O X O 51 50 -------------------------------------O X O --O --O X O X O * --------------50 - 49 O O X O X * 49 48 O X O * 48 47 O X * 47 46 O * 46 45 -------------------------------------------------* ------------------------45 - 44 44

To: Paul Reuben who wrote (318)	11/22/2000 7:51:11 PM
From: The Phoenix	Read Replies (1) \| Respond to of 405

This is bad.... 4400 4400 4350 Top4350 4300 * 4300 4250-* ----------------X ------9 * --------------------------------------------4250- 4200 * X O X O * 4200 4150 * X O X O * 4150 4100 * X O X O * 4100 4050 * X X O X O * 4050 4000-----------* --X O 7 O ----X O --------* ----------------------------------4000- 3950 * X O X O X O X * 3950 3900 X O X O X X O X O X * 3900 3850 X X O O X O X O X O X O X * 3850 3800 X O X O X O X O O X O X O * 3800 3750-----------X O X ----O X O X ----O * O X O ------* ------------------------3750- 3700 X O O X O * O X O * 3700 3650 O X O X * O O * 3650 3600 O X 8 X * A * 3600 3550 O 6 O * O * 3550 3500-O --------X ------------* --------------O ----X ----------* --------------3500- 3450 O X * O X O X * Med3450 3400 O X * O X O B O 3400 3350 O X X X * O X O X X O 3350 3300 O X O X O X * O X X O X O X O 3300 3250-O X O X O X --* ------------------------O X O X O X O X O ----------------3250- 3200 O O X O * O X O X O X O X O X 3200 3150 O X * O X O X O X O O X O 3150 3100 O X * O O X O O X O 3100 3050 O * O O X O 3050 3000-----* --------------------------------------------------O X O ------------3000- 2950 O X O 2950 2900 O O 2900 2850 O 2850 2800 O 2800 2750---------------------------------------------------------------------------2750- 2700 2700 2650 2650 2600 2600