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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Venkie who wrote (32757)	3/8/2001 2:08:46 PM
From: im a survivor	Respond to of 65232

<<extr will go lower ..IMO..12-14 >> My charts keep dropping support levels.....very odd. She sure has taken a bath.....problem with extr and even ntap...I want both, but the charts have said "no, not yet".....I wonder when they will tell me to buy? My guess is I miss them both. I have simply decided I will not buy any high flyers while they are dropping until they show a basing pattern or at least I have confidence a botom is nearby, while at the same time, I wont chase them to the upside and more then likely both extr and ntap will skip a bottoming process and one day just turn around and have big moves to the upside.......I thought ntap was basing...it broke that last week however....extr seemed to show basing a couple times at much higher prices, only to break down just when it looked like a bottom was set.......it very well could hit the $12 - $14 area, or even less.....the key is what it does in the 20ish area....if extr can hold and base at 20, that will be a good sign obviously. If she doesnt hold $20, she may be testing $10 eventually....I know it sounds crazy, but hell look around at all the prices....hundreds of stocks are at levels that i would have said "no way in a million years", a few months ago...yet here we are.........I must agree with ed on the high pe, falling knife, form a base first theory, thats for damned sure!! Some of these falling knives may indeed be rubber as Tom stated, but others could be steel, razor sharp and painful!!.....although, long term extr and ntap are probably safe buys now. If you plan to hold and dont care if it drops short term, maybe another 50% or more...then I would buy, because my guess is both extr and ntap...as well as jdsu, sunw, intc and etc, etc....will one day be much higher......but for now, they just dont seem done whacking the storage and networking sectors.... keith