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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Hobie1Kenobe who wrote (63766)	11/29/2000 11:32:16 AM
From: Walkingshadow	Respond to of 122087

JF3, CREE is testing support, is trading substantially below its moving averages, and is oversold. askresearch.com There are early buy signals, and today's candle, though still forming, looks short-term bullish. CREE is in a downtrend, and so is a good short candidate, but this is not the time IMHO. I would not short here, but would look for an entry between the 10 and 20 DMA, which would be about 90. This is also overhead resistance now, and if CREE continues in a downtrend, I would like to see it retest here, then fail. If it rallies to retest at this level, I would short at the first signs of technical and chart weakness. I would also look for diminishing volume as it rallies, which would be consistent with buying pressure drying up. JMVHO, as always........................... WS