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Strategies & Market Trends : 123 Trends and Reversals -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (2)	1/29/2001 10:24:04 PM
From: Ally	Respond to of 147

Hi Michael, It is an eerie time right now to see traders continue to pick bottom despite various earnings warnings from giant companies, Cisco included. Seems to me that the market has already factored the anticipated rate cut. I have this feeling that hedge funds will take the opportunity to feed inventory to traders on Wednesday. Unless, Mr. Greenie does more than half point.. then the QQQ resistance of $69 could easily be broken. Like you, I would stay on the sidelines until the air clears up and see if indeed NAZ has changed direction.

To: Michael Watkins who wrote (2)	1/29/2001 10:44:49 PM
From: Ally	Read Replies (2) \| Respond to of 147

Re: Global Crossing GX Has clearly passed the Trader Vic 123 test of bottom, and reversed from a downtrend to uptrend. I've traded GX twice this month and came out both times with a profit. However, the second exit of $20 7/8 turned out premature since the stock rose to $25. My lesson here is that when a stock is on a trend, it is generally better to hold, rather than trade in and out. GX has sinced retraced back to the 20 ema line. Today, it bounced up from this support level. siliconinvestor.com The $64,000 question now is whether the retracement is completed, and the 20 ema support line holding up. Since Wednesday is D day, I think I'll wait and see.