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

To: Boplicity who wrote (66342)	1/9/2001 9:22:48 AM
From: KymarFye	Read Replies (1) \| Respond to of 99985

On NTAP, looks like downside it's got to hold above support at 47ish, also the 1-3 low. I'd estimate that normally you'd want to see a breakdown to the 45s at least, maybe more (or a failure to pull back and close above 47) given the stock's high volatility, esp. if you were hoping to put a stop anywhere close to 47. Needless to say, you risk missing one of those wonderful Nasdaq waterslides... On the upside, it's got that long descending trendline to fight through, which today happens to be running through 64, also a somewhat important level recently, but rather far from the current price (though we were there just a few days ago... same ol' story on the 'daq). If the techs fight off the NOK news and the AMZN downgrades (as seems very possible right now - a very bullish sign I'd think), then NTAP might at least make a go at the upper descending trendline, if not today then sometime soon. I'd watch for a definitive breakthrough - merely moving through it sideways wouldn't say much. I suppose I should add that this is just my interpretation of formation-based practices that I myself employ only secondarily in my own trading.

To: Boplicity who wrote (66342)	1/9/2001 9:39:26 AM
From: HairBall	Read Replies (3) \| Respond to of 99985

Two Stock Charts... My Intraday/Daily - GE (General Electric) Daily Semi-log Mart the chart you requested. I am not trading GE and have no plans to so I’ll keep my comments brief. Those that use to visit my web site have seen these trend lines and the 94 RTC on my “End of Day” chart first illustrated a year or so ago when I added GE to the list of charts I updated regularly. GE broke below the long-term RTC around the turn of the year and then bounced off the 94 RS. GE may recover some from these levels, but longer-term I expect GE to move lower. lgscharts.homestead.com My Intraday/Daily - NTAP (Network Appliance, Inc.) Daily Semi-log This chart is for Greg, however those of you that visited my web site saw these same trend lines over the last year or so on my “End of Day” charts. I also first posted this chart on the NTAP thread back in late Sept of last year when I was invited by Uncle Frank to give them some idea of when this stock would find some sort of resistance. I think a little to their surprise, I told them I expected the stock to top out in a day or so and provided this chart and an intraday chart to illustrate my point. Within a day or so NTAP did top out. In Oct 00, a retest of the top occurred yielding a slightly higher high before resuming the decline. Greg, I would find some intraday technicals you are comfortable with to follow the price action as it moves toward and or intersects the bounding trend lines of the sym triangle that began to form at the bottom of the Oct/Nov waterfall decline. This formation usually breaks in the direction of the trend from which it is formed. As we both know, chart formations are not 100%. lgscharts.homestead.com How to Interpret My Charts marketdirectionanalysis.homestead.com Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. Do not base any investment decision solely on any one person's views or analysis. Do your own research and take responsibility for your investment decisions.